Trump scraps threat of 20% fee on Hormuz cargo as US prepares to resume blockade of Iran ports
- 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.
- This 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.
Confirmed
- 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.
Unverified
- 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.
- This 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.
Sources: Al Jazeera, BBC News