Trump Reverses Himself on Charging Toll in the Strait

President Trump reversed himself on charging a 20% toll for transiting cargo through the Strait of Hormuz, the AP reports.

He now says on social media that his reversal was “based on highly productive conversations with Middle East leadership” and the Gulf states will make “Trade and Investment Deals” into the U.S. and investments “will be MASSIVE,” though it’s unclear if these would be new commitments relative to what he announced after a visit last year to the Middle East.

Financial Times: Trump says U.S. to abandon proposed Strait of Hormuz cargo fee.