– U.S. President Donald Trump said he has decided to abandon a proposed 20% tariff on goods passing through the Strait of Hormuz, saying he instead plans to pursue trade and investment agreements with Gulf countries.
In a statement, Trump said the proposed tariff would be replaced by economic partnerships designed to strengthen commercial ties between the United States and Gulf nations.
The announcement comes amid ongoing tensions surrounding the conflict involving Iran and follows growing scrutiny over the economic costs associated with U.S. involvement in the region.
Political observers say the proposed shift reflects an effort to secure greater economic cooperation with Gulf states while easing domestic concerns over the financial impact of regional instability.
No further details on the proposed agreements or participating countries were immediately available.
