Trump backtracks on plan to toll Hormuz ships
Andrew Harnik/Getty Images/AFP (Photo by Andrew Harnik / GETTY IMAGES NORTH AMERICA / Getty Images via AFP) US President Donald Trump on Tuesday abruptly scrapped a planned 20 percent levy on ships transiting the Strait of Hormuz amid clashes with Iran, saying he would instead seek compensation from Gulf allies via trade deals.” Iran’s military command had insisted it would not allow the United States to “interfere” in the strait, while also warning its Gulf neighbors — who have borne the brunt of its retaliatory attacks — against cooperating with Washington.
That announcement caused oil prices to spike and alarmed allies — especially given that the United States has previously slammed Iran for its own plans to charge shipping fees for the Strait.
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