Trump backtracks on 20% Hormuz fee plan: Why it was unworkable in the first place
US President Donald Trump reversed his plan to impose a 20% fee for the safe passage of commercial vessels through the Strait of Hormuz, citing productive discussions with Middle Eastern leaders. The proposal faced skepticism due to uncertainties regarding its implementation and calculation, raising concerns about its feasibility. Trump's swift backtrack may reflect pressures from Gulf states and potential implications for global energy and shipping markets.