Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Trump scraps Hormuz toll plan but presses ahead with...
Business & Finance

Trump scraps Hormuz toll plan but presses ahead with Iran blockade

Trump scraps Hormuz toll plan but presses ahead with Iran blockade
South China Morning Post Tuesday 14 July 2026, 16:37 UTC By Teresa Elena Frontado 1 min read
Key Points

US President Donald Trump on Tuesday abandoned plans to impose a 20 per cent charge on commercial cargo passing through the Strait of Hormuz, less than a day after unveiling the proposal, while pressing ahead with a naval blockade targeting Iranian trade. Trump said the proposed fee would be replaced by trade and investment agreements with Gulf states following discussions with regional leaders. “Based on highly productive conversations with Middle East leadership, I have decided to replace...

US President Donald Trump on Tuesday abandoned plans to impose a 20 per cent charge on commercial cargo passing through the Strait of Hormuz, less than a day after unveiling the proposal, while pressing ahead with a naval blockade targeting Iranian trade. Trump said the proposed fee would be replaced by trade and investment agreements with Gulf states following discussions with regional leaders. “Based on highly productive conversations with Middle East leadership, I have decided to replace the...
Trump (ORG) Hormuz (LOCATION) Iran (LOCATION) US (LOCATION) Donald Trump (PERSON) the Strait of Hormuz (LOCATION) Iranian (ORG) Gulf (LOCATION) Middle East (LOCATION)
Originally published by South China Morning Post Read original →

Related Stories

Rankings: Marina Mabrey moves into top 10

As the WNBA heads into the All-Star break, it should be no surprise to see many of those same All-Stars among the top of the updated fantasy women's basketball rankings. All-Star Game starters A'ja Wilson, Caitlin Clark, Breanna Stewart, Aliyah Boston and Paige Bueckers also reside at the top of the player rankings. Meanwhile, there are some names making a big jump up the rankings.

ESPN 40m ago

Minutes of the Money Market Committee meeting – June 2026

Bank of England News 1h ago

PRA and FCA propose new captive insurance regime to drive UK growth and competitiveness

Bank of England News 1h ago

Australia's highest-paid chief executives revealed

Australia's highest-paid executive lives in US and earns 500 times that of average full-time worker Wed 15 Jul 2026 at 4:42am In short: Australia's highest-paid executive collected almost $48 million in the 2025 financial year, which is about 500 times the full-time average wage. The average ASX100 CEO earned about 55 times more than the average wage earner in FY2025. Five out of the top 10 highest earners listed on the ASX are from US-based companies, according to Australian Council of...

ABC Australia 1h ago