Trump drops 20% Hormuz fee; US naval blockade against Iran resumes

US President Donald Trump on Tuesday dropped his proposal to impose a 20 percent "reimbursement" fee on cargo shipped through the crucial Strait of Hormuz, saying that he will replace it with trade and investment deals with Middle Eastern countries. Trump made the remarks in a social media post, just a day after he announced that the United States will serve as the "guardian" of the strait and be "reimbursed" at a 20 percent rate on all cargo shipped through the waterway that Iran had all but cl