Donald Trump U-turns on Strait of Hormuz 20% cargo toll less than 24 hours after reinstating Iran blockade

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Donald Trump U-turns on Strait of Hormuz 20% cargo toll less than 24 hours after reinstating Iran blockade

Donald Trump has backtracked on his plan to impose a 20 per cent fee on cargo passing through the Strait of Hormuz, just a day after announcing it. The controversial plan was announced alongside the confirmation of the reinstatement of a blockade on Iranian ships. The US President confirmed trade and investment deals with the Gulf states will replace the proposed fees for ships to pass through the channel. On Trut…