Trump drops proposed Hormuz shipping levy as US renews Iran port blockade
US President Donald Trump has withdrawn a threatened 20% charge on cargo moving through the Strait of Hormuz, saying Gulf trade and investment pacts will take its place, as Washington presses to loosen Iran's grip on the waterway.
The shift came only hours before the United States restarted a blockade of Iranian ports. The move follows a fresh exchange of strikes between the US and Iran that drove oil prices higher and left tanker traffic through the strait almost at a standstill.
US Central Command said late Tuesday that its forces had opened another wave of attacks on Iran, aimed at weakening capabilities used to strike commercial ships in the vital passage.
Syndicated from Television Jamaica (Video) · originally published .
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