President Donald Trump has scrapped his proposed 20% cargo fee on ships passing through the Strait of Hormuz, replacing the plan with trade and investment agreements involving Gulf states. The announcement comes as the United States resumes a naval blockade of Iranian ports, intensifying pressure on Tehran amid escalating US-Iran tensions.
The move follows fresh U.S. strikes on Iranian military sites and renewed exchanges between Washington and Tehran. With shipping through the Strait of Hormuz slowing and oil markets closely watching developments, the latest escalation could have major implications for global trade, energy security, and stability in the Middle East.
Watch for the latest updates on the US-Iran conflict, Strait of Hormuz crisis, Trump’s Iran policy, global oil markets, and the growing geopolitical tensions in the Gulf.
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