What did Trump announce regarding the proposed 20% fee for Strait of Hormuz transits, and what did he replace it with?

Trump announced that he would rescind the proposed 20% 'United States Reimbursement Fee' for all volumes transiting the Strait of Hormuz and instead replace it with 'Trade and Investment Deals that the various Gulf States will be making into the United States,' based on 'highly productive conversations with Middle East leadership.' The announcement was made in a social media post and provided no details on the timing or amount of any investments.

What was the context of the Strait of Hormuz transit resumption, and how severely did its closure affect global oil and container shipping?

Transits through the Strait of Hormuz resumed on 19 June after the US and Iran signed a memorandum of understanding (MoU), though traffic has been uneven due to a fragile ceasefire; the strait had been essentially closed since late February following US and Israeli attacks on Iran. The closure significantly impacted crude oil and chemical markets—around one-third of global seaborne crude and up to 20% of the world’s total oil flows pass through the strait—while container shipping was less affected, with less than 2% of global container capacity passing through annually, though it contributed to higher shipping rates mainly due to surging bunker fuel prices.

Trump Rescinds 20% Fee for Hormuz Transits, Replaces with US Investments by Gulf States

Jul 14, 2026

President Trump announced replacing a proposed 20% fee on Strait of Hormuz transits with trade deals, alleviating concerns over global crude oil and chemical market disruptions caused by regional tensions.

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