Why Trump Backs Away From Strait of Hormuz Transit Fee After Proposing 20% Charge

U.S. President Donald Trump has reversed his position on charging ships a transit fee through the Strait of Hormuz, saying he does not believe anyone should be allowed to impose such a charge. Just a day earlier, Trump had suggested the United States could levy a 20% transit fee on vessels using the strategic waterway. While rejecting the idea of fees, he argued that it is unfair for the U.S. to bear the burden of protecting one of the world's most critical oil shipping routes without compensation. Watch for the latest updates and what this could mean for global trade, oil markets, and the Gulf crisis.