Trump drops planned Strait of Hormuz toll in favor of Gulf trade deals

President Trump reversed plans to impose a 20% toll on cargo passing through the Strait of Hormuz, saying Gulf nations will instead pursue major trade and investment deals with the U.S. The shift comes as fighting between the U.S. and Iran intensifies, threatening global energy supplies and trade. Iran has continued attacks in the strait despite a temporary ceasefire effort, raising fears of broader war and economic disruption.