The Trump toll: Why plan to charge ships 20% fee in Strait of Hormuz will never work
- Donald Trump has announced a 20 per cent fee on cargo ships passing through the Strait of Hormuz, a move that would dramatically increase the cost of transporting oil through the vital waterway.
- The US president vowed on Monday to charge the fee on all cargo shipped through the strait, a toll that would cover the cost of America's self-declared role as the “guardian of the Strait”.
- It is an announcement that has already sparked fury from major shipping companies.
Confirmed
- Donald Trump has announced a 20 per cent fee on cargo ships passing through the Strait of Hormuz, a move that would dramatically increase the cost of transporting oil through the vital waterway.
- The US president vowed on Monday to charge the fee on all cargo shipped through the strait, a toll that would cover the cost of America's self-declared role as the “guardian of the Strait”.
Unverified
- It is an announcement that has already sparked fury from major shipping companies.
Sources: The Independent, The Hill