Trump retreats from Hormuz 20% fee plan in pivot to Gulf investment deals

In a surprising move, the Trump administration has abandoned its controversial plan to charge a 20% fee on shipments passing through the Strait of Hormuz. Just a day earlier, the president had announced the U.S. would act as the "guardian" of the waterway and seek compensation for its protective role. This pivot comes as the administration seeks to foster investment deals in the Gulf region, indicating a strategic shift in U.S. policy towards the Middle East. While the initial plan aimed to assert American dominance, the reversal suggests a reevaluation of how to engage economically with Gulf nations.