President Donald Trump has dropped his plan to impose a toll on the Strait of Hormuz, a major shipping route, after a 24-hour sprint by his aides and international leaders to convince him to reverse course. The decision came after Trump announced on Monday that the US would start charging a 20% toll on all cargo shipped through the strait, sparking widespread criticism and concerns about the impact on global trade.
International Backlash
The announcement was met with swift opposition from Gulf allies, including Saudi Arabia, the United Arab Emirates, Bahrain, and Qatar, who warned that the move would undermine the US’ own war aims and validate Iran’s plans to charge fees in the strait. The US has long maintained that the strait should remain open and free to all ships, and that any attempt to impose tolls or fees would be a violation of international law.
Trump’s aides and international leaders worked tirelessly to convince him to drop the plan, arguing that it would push oil and gas prices higher, add to the political pressure on Republicans ahead of the midterm elections, and contradict the administration’s own principles opposing the concept of any country imposing fees on a waterway.
New Investment Pledge
Instead of imposing a toll, Trump announced that the Gulf nations had pledged to pour new investments into the US. The exact amount of the investment was not disclosed, but the move is seen as a significant development in the region’s economic ties with the US.
Original reporting: El Paso News (HLL/CB) — read the source article.
