Trump reacts after walking back 20% fee for Strait of Hormuz cargo
Summary
President Donald Trump reversed his plan to charge a 20% fee on cargo ships passing through the Strait of Hormuz. He said the change came after several U.S. allies made trade deals with the United States.Key Facts
- President Trump initially planned to impose a 20% fee on cargo ships using the Strait of Hormuz.
- The Strait of Hormuz is a key shipping route in the Middle East.
- The fee was intended to affect ships transiting this waterway.
- President Trump later decided not to impose this fee.
- He credited recent trade agreements with U.S. allies for his decision to walk back the fee.
- The change was announced publicly and covered by CBS News.
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