NEW TRADE AGREEMENTS INSTEAD OF TARIFFS

WASHINGTON, JULY 14 /SRNA/ - US President Donald Trump said that the previously announced 20 percent tariff on transit through the Strait of Hormuz would be replaced by various trade and investment agreements between the Gulf countries and Washington.

"Those investments will be massive, but at the same time extremely good for them and their future. As everyone knows, we have the largest dollar investment in the US from any country in history, but these new investments will make that figure even bigger," Trump wrote on Truth Social.

He added that additional millions would come to the United States through factories, plants and equipment, and that new jobs would also be created.

The US president insists that the strait is open to all vessels except those from Iran, claiming that the Iranian leadership is leading the country "down a path of destruction."