Trump retracts proposed 20 percent toll on Strait of Hormuz within hours
Former President Donald Trump's proposal to impose a 20 percent toll on maritime traffic through the Strait of Hormuz was retracted within 24 hours. Analysts noted such a fee would increase oil prices by approximately $16 per barrel. The proposal's brief existence signals ongoing tensions and strategic uncertainty in U.S.-Iran relations amid escalating conflict.
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Published 15 Jul 2026, 02:08 UTC · Updated 15 Jul 2026, 02:10 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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