Early Edition: July 15, 2026

President Trump abandoned plans to impose a 20% fee on ships through the Strait of Hormuz after Gulf allies requested an alternative arrangement involving U.S. investments. The U.S. military reimposed a naval blockade on Iran, conducted strikes that killed at least seven Iranian troops, and warned of further attacks. Iran responded with missile and drone strikes in Jordan, Bahrain, and Kuwait, while its Islamic Revolutionary Guard Corps threatened to close regional energy export corridors.