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Tuesday, July 14, 2026
Trump backtracks from proposal to charge 20% toll for securing Strait of Hormuz
Add ToI as a Preferred Source on GoogleJacob Magid is The Times of Israel's US bureau chief
US President Donald Trump backtracks from an earlier assertion that Washington would charge a 20% toll for securing the Strait of Hormuz, declaring that the US will instead compensate those costs through investment deals with Gulf countries.
“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States reimbursement fee with trade and investment deals that the various Gulf States will be making into the United States,” Trump writes on Truth Social.
It’s unclear whether Trump’s plan to charge a 20% toll would have ever worked or whether his claim of new investments from Gulf countries will end up being a repackaging of previously pledged investments that have yet to come in in full.
Trump also claims oil is “flowing like never before” out of the Strait of Hormuz, thanks to the US military efforts in the region, adding that a blockade of Iranian ports is now in place.
The Times of Israel Community.