Updated July 14, 2026

https://nypost.com/2026/07/14/us-news/trump-backs-off-20-toll-on-ships-in-strait-of-hormuz/

"WASHINGTON — President Trump ditched his proposed 20% Strait of Hormuz toll Tuesday after Gulf allies agreed to replace it with billions in US investments — as Washington and Tehran traded large-scale strikes across the region.

“I put it out yesterday, I thought it was good. [But] I was called by different people, different countries — kings and emirs, and all of the people that we all know and we all love — and they’ve been, frankly, they’ve been very strong partners,” Trump told reporters in the Oval Office.

“And they said ‘We’d love to do it a different way, we’d love to invest in the United States with billions and billions of dollars,'” he added."