US President Donald Trump has abandoned plans to impose a 20% fee on cargo vessels transiting the Strait of Hormuz, marking a sharp pivot in Washington’s approach to the critical waterway.
The proposed charge, which had threatened to disrupt global energy flows and freight costs, was scrapped without formal implementation.
The decision removes a significant overhang on shipping insurance premiums and route planning for tankers and dry bulk carriers.
Markets had priced in heightened geopolitical risk and potential transit delays following the initial threat.
The reversal suggests a recalibration of US strategy, favoring targeted sanctions over broad-based trade barriers that could impact allied economies and global supply chains.
While the cargo fee is off the table, the United States has maintained its existing sanctions regime on Iranian ports.