AxiosCenter·
Trump backtracks on Hormuz 20% toll demand
President Trump on Tuesday walked back his demand for collecting a 20% toll from ships that transit through the Strait of Hormuz — and instead said Gulf states would make major investments in the U.S. Why it matters: Trump's Hormuz fee announcement on Monday was deemed illegal by the UN maritime agency and shocked many U.S. allies in the Gulf. It also validated the Iranian demand to collect service fees in the strait — something Trump himself rejected until several days ago. What they're saying…
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