Trump drops the Hormuz toll, keeps the pressure on Tehran

Donald Trump has managed, in the space of a day, to turn a toll booth into a trade pitch. The US president has dropped his threat to charge 20% on cargo ships using the Strait of Hormuz and now says the money will be replaced by trade and investment deals with Gulf states. The change of tone arrives just as Washington prepares to resume a naval blockade of Iranian ports — a reminder that in the Gulf, commercial language and military pressure often travel together.

The reversal follows renewed strikes between the United States and Iran, which have sent oil prices higher and left tanker traffic through the strait close to a standstill. US Central Command said earlier that it had carried out a third night of attacks aimed at degrading Iran’s ability to hit shipping in the area. Iranian state media later reported blasts in several cities, including Bushehr, where a nuclear power plant is located.

Tehran, for its part, said it had targeted US military facilities in Bahrain and Jordan after earlier striking two tankers from the United Arab Emirates. The tit-for-tat pattern has only made the Strait of Hormuz look like what it has always been: a narrow passage with global consequences. Roughly a quarter of the world’s oil and 20% of global liquefied natural gas used to pass through it before the latest disruption.

Trump had on Monday declared the United States the guardian of the strait and said the 20% charge would help pay for its protection. He also said the US would reimpose its naval blockade on Iran in an effort to further weaken the country’s already strained economy. Centcom said the blockade on Iranian ports would take effect at 16:00 Eastern Time on Tuesday.

By Tuesday, however, the president had changed course. In a post on Truth Social, he said he would replace the fee with trade and investment deals from Gulf states, which he described as massive and beneficial to their future. He offered no details, which is often how grand strategy looks when reduced to a social-media update.

Later, after talks in Washington with Iraq’s new prime minister, Ali al-Zaidi, Trump said he disliked the idea of a fee, though he argued it was unfair for the United States to protect the strait for the whole world. He added that he had revised the plan after receiving numerous calls from Gulf leaders.

Shipping data show traffic through the strait has fallen to a two-month low, while Brent crude has climbed sharply. Israel is also keeping up the pressure. Prime Minister Benjamin Netanyahu warned on Tuesday that any Israeli retaliation would be much more powerful if Iran struck first, telling Iranian leaders not to assume calm would last if they attacked. The message, like the rest of this crisis, was hardly subtle.

Written by Martina Kirchner martina.kirchner@alpineweekly.com