Washington: US President Donald Trump announced that he has decided to replace the 20% US tariff with trade and investment deals to be concluded between various Gulf states and the United States.

According to National Iraqi News Agency, Trump made this announcement on the Truth Social website, where he elaborated on his strategy regarding Middle Eastern trade relations. He stated that oil is flowing like never before due to the influence of the US military and declared an embargo targeting ships associated with Iran.

Trump emphasized that, following productive discussions with Middle Eastern leaders, the decision to replace the tariff with trade and investment deals would lead to substantial investments. He noted that these investments will benefit both the Gulf states and the United States, enhancing future economic prospects.