Trump withdraws plan to impose 20% tariff on ships in the Strait of Hormuz
U.S. President Donald Trump announced that he is withdrawing from imposing a 20% tariff on ships passing through the Strait of Hormuz, replacing it with trade agreements with Gulf countries, while maintaining a blockade on ships linked to Iran. This comes after discussions with Middle Eastern leaders, and the blockade on ships associated with Iran will continue. Washington had previously announced its intention to impose tariffs to offset the costs of protecting this vital maritime transit route.
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