Trump backtracks on plan to toll Hormuz ships

US President Donald Trump on Tuesday scrapped his planned 20% levy on ships transiting the Strait of Hormuz, instead opting for trade deals with Gulf allies. He said Middle Eastern leaders persuaded him to drop the toll, which he had announced the day before. Trump maintains a full blockade on ships to and from Iranian ports. The Strait of Hormuz was closed by Iran after a US-Israeli attack in February, then partially reopened after a June ceasefire.