WATCH: Trump drops Strait of Hormuz fee initiative, allies to invest in US instead

President Trump backtracked on his proposal to charge a 20% fee for securing the Strait of Hormuz, saying allies have offered to invest in the United States instead.

Reporter: Can you explain your change in thinking on the Strait of Hormuz on the 20% fee?

Trump: I was called by different people, different countries, kings and emirs and all of the people that we all love and they said we'd love to do it a different way, we'd love to invest in… pic.twitter.com/Pyi44gZQ30

— Open Source Intel (@Osint613) July 14, 2026

Donald TrumpIraqmoneyStrait of Hormuz