US President Donald Trump announced that he will pursue investment deals with Persian Gulf countries instead of implementing a 20% tariff on ships using the Strait of Hormuz. This declaration came less than a day after he revealed plans to charge vessels passing through the strait 20% of the value of their cargo.
Trump now aims to finalize trade and investment agreements with each of the Persian Gulf nations. He also stated that the strait will remain open to all except Iran. “Based on extremely productive talks with Middle Eastern leaders, I have decided to replace the 20% US tariff with trade and investment deals that various Persian Gulf states will conclude with the United States,” the president wrote in a post on Truth Social.
Context and international reaction to tariffs
Before the conflict, approximately one-fifth of the world’s oil and gas traffic passed through the Strait of Hormuz daily. If the US had implemented a 20% tariff, it could have generated around 240 million dollars per day.
The UN maritime agency voiced its opposition to any tariffs in the straits used for international shipping, emphasizing that there is no legal basis for imposing mandatory transit fees.
Escalation of tension in the region
Meanwhile, military tensions in the strait are escalating. Iranian forces attacked two Emirati tankers, resulting in the death of one Indian crew member and injuries to at least eight people, with six in serious condition, according to Lara Villalon.
In response, the US military has continued to strike targets along the southern coast of Iran, aiming to “weaken Iran’s ability to disrupt maritime traffic in the Strait of Hormuz,” according to US military officials.
Tensions have also risen in Yemen, where a tanker was attacked by six small boats off the southern coast of the country in the Gulf of Aden on Monday.
Source: El Mundo
