US President Donald Trump backed off a plan to charge a 20% toll in the Strait of Hormuz, a day after a White House official told Semafor that Trump was “very serious” about the fee.
Analysts were skeptical about the proposal, as it would double the cost of moving oil through the strait. Hours after Trump’s retreat, Washington restarted its naval blockade of Iranian ports and launched fresh strikes against Iran.
The moves are part of Trump’s efforts to wrest control of Hormuz, his latest “shift in military strategy” after aerial attacks, the original blockade, and a ceasefire haven’t forced Tehran into surrendering, The Wall Street Journal wrote. “Coercive wars can go on and on,” a former CIA analyst said.