Donald Trump scraps threat of 20% fee on Strait of Hormuz cargo
President Donald Trump has reversed his threat of a 20% fee on all Strait of Hormuz cargo shipping, as the US battles to break Iran's
President Donald Trump has reversed his threat of a 20% fee on all Strait of Hormuz cargo shipping, as the US battles to break Iran's hold on the waterway.
He said the toll would be replaced by trade and investment deals with Gulf states, just hours before the US resumes a blockade of Iranian ports.
It follows renewed strikes between the US and Iran, which triggered a sharp rise in oil prices as tanker traffic through the Strait has virtually stalled.
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