Trump reverses Hormuz toll, reinstates naval blockade

President Donald Trump reversed his proposal for a 20% toll on cargo transiting the Strait of Hormuz on Tuesday, July 14, 2026, just one day after announcing the controversial fee. Instead, his administration said it will pursue unspecified trade and investment deals with Gulf states while moving forward with a renewed naval blockade targeting Iran.

The reversal was announced on the Truth Social platform, with Trump stating the shift followed what he called "highly productive" conversations with Middle East leadership. He said the proposed "reimbursement fee" for U.S. security operations would be replaced by investments from Gulf states into the United States, predicting they would be "massive" and create millions of American jobs. He did not name specific countries, detail investment amounts, or confirm any finalized agreements.

Concurrently, the administration is reinstating a full naval blockade focused on Iran. Trump declared the Strait of Hormuz open to all shipping except vessels calling at Iranian ports or carrying Iranian cargo. U.S. Central Command prepared to begin enforcing the blockade at 4 p.m. Eastern Time on Tuesday, authorizing the interception, diversion,...