Shippers balk at Trump's Strait of Hormuz fees: "Dangerous Pandora's Box"

President Donald Trump reversed plans to impose a 20% toll on cargo transiting the Strait of Hormuz. Industry insiders previously argued there was no legal basis for the fees, which could have cost ships tens of millions of dollars, describing the move as a dangerous Pandora's Box. Trump now states that Middle Eastern countries will instead engage in investment and trade deals with the U.S., shifting the strategy away from the proposed transit charges.