Trump Scraps Threat Of 20% Fee On Hormuz Cargo As US Resumes Blockade Of Iran Ports | Business Day
President Donald Trump has reversed his threat to impose a 20 per cent fee on all cargo passing through the Strait of Hormuz, as the United States continues efforts to break Iran’s hold on the strategic waterway.
Mr. Trump said the proposed toll will instead be replaced by major trade and investment agreements with Gulf states, just hours before the US resumed its blockade of Iranian ports.
The move follows renewed strikes between the United States and Iran, which have triggered a sharp rise in oil prices as tanker traffic through the Strait of Hormuz has virtually ground to a halt.
Airdate: July 14, 2026.
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