Trump Reverses Plan to Impose 20% Tariff on Ships Passing Strait of Hormuz
US President Donald Trump has retracted his previous announcement that ships passing through the Strait of Hormuz would be required to pay a hefty 20 percent tariff on the value of their cargo. Despite this reversal, Trump confirmed that the embargo on the Strait of Hormuz targeting Iran will still be implemented as scheduled overnight. The initial tariff proposal faced significant criticism, prompting the president to backtrack while maintaining the broader sanctions against Iran's maritime activities in the strategic waterway.
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