U.S. President Donald Trump has withdrawn his earlier decision to impose a 20 percent tariff on maritime trade passing through the strategic Strait of Hormuz. Announcing the reversal, Trump said the controversial proposal would no longer proceed, marking a shift from his previous stance.

Despite canceling the tariff plan, Trump reaffirmed that existing U.S. sanctions on Iranian ports will remain in place. In a social media message, he stated that the strait will remain open to ships from all countries except Iran. He also criticized Iran’s leadership, accusing it of deceit, violence, and hostility that have led the country into deeper crisis.

Trump indicated that instead of tariffs, the United States will pursue new trade and investment-based agreements with Gulf countries as part of a revised strategy for the region.