President Donald Trump announced Tuesday that he is replacing his proposed 20 percent reimbursement fee on cargo ships transiting the Strait of Hormuz with trade and investment deals involving Gulf states, while maintaining a blockade on ships traveling to or from Iranian ports or carrying Iranian cargo.
“Oil is flowing like never before, thanks to the awesome Power of the United States Military,” Trump wrote Tuesday on Truth Social, crediting Secretary of War Pete Hegseth, Chairman of the Joint Chiefs of Staff Dan Caine, U.S. Central Command Commander Adm. Brad Cooper, and American service members.
Trump said the Strait of Hormuz is “open to…
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