NEW The Indian Express
Tue 14 Jul 2026 10:16:23 PM
Trump reverses decision to impose 20% Hormuz fees in favour of Gulf investment deals
SUMMARY
US President Trump on Tuesday stepped back from his decision to impose a 20 per cent fee on all the cargo being shipped through the Strait of Hormuz as part of the conflict with Iran, saying the Gulf countries would instead make investments and trade deals with America. After Tehran said it had closed the strategic waterway, the US military continued its wave of attacks for the third night in a row.