Trump Blockades Iranian Shipping and Proposes Strait of Hormuz Fee
President Donald Trump reimposed a blockade on Iranian shipping and proposed a 20% cargo fee to fund security operations in the Strait of Hormuz.
Donald Trump reimposed a blockade on Iranian shipping along the Strait of Hormuz and proposed a 20% fee on all cargo transiting the waterway to fund guarding operations. This move follows a series of continued U.S. military strikes against Iran.
The escalation triggered an immediate reaction in global energy and financial markets. Brent crude oil prices jumped nearly 3% toward $86 a barrel. While Asian stocks ended mostly higher due to positive Chinese trade data, European markets traded lower and the Canadian stock market saw a weak start on July 14, 2026, as investors grew concerned over potential inflation and interest rate shifts.
