Cyprus Mail14 Jul 2026

Trump drops Hormuz shipping fee as US prepares Iran port blockade

US President Donald Trump abandoned plans for a 20% fee on cargo passing through the Strait of Hormuz on Tuesday, replacing the proposed charge with trade and investment agreements involving Gulf states as Washington prepares to resume a naval blockade of Iranian ports.

Trump had announced the fee as part of efforts to cover the cost of US operations in protecting shipping through the strategic waterway, which has seen a sharp reduction in traffic following renewed strikes between the United...

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