President Trump announced he is replacing a planned 20% U.S. reimbursement fee on cargo shipped through the Strait of Hormuz with new trade and investment agreements involving Gulf states, saying the deals will bring historic levels of investment, factories, and millions of high-paying American jobs to the United States.
In the same Truth Social post, Trump said the United States will maintain a full blockade on ships traveling to and from Iranian ports or carrying Iranian cargo while keeping the Strait of Hormuz open to all other commercial shipping. He credited the U.S. military and senior defense leaders for securing the strategic waterway.
President Trump on Truth Social
