U.S. President Donald Trump reversed his decision to collect a 20% transit fee in one day in return for providing security in the Strait of Hormuz and announced that he would replace it with a trade agreement with Middle Eastern countries. President Trump said on TruthSocial on the 14th (local time), “Based on very productive conversations with Middle Eastern leaders, I am recommending that the U.S. 20% fee be replaced by a trade and investment agreement for Gulf countries to invest in the United States.”