Summary
- Donald Trump is said to be seriously considering a plan to impose a 20% fee on cargo passing through the Strait of Hormuz.
- Markets are watching for international shipping and crude transport costs to rise if the US moves ahead with charges for passage through the Strait of Hormuz.
- As tensions around the Strait of Hormuz continue, attention is focused on the potential impact on global oil prices and inflation concerns and on investor sentiment toward risk assets including cryptocurrencies.
Forecast Trend Report by Period
Donald Trump is seriously considering a plan to impose a 20% fee on cargo passing through the Strait of Hormuz.
On July 14, Walter Bloomberg cited Semafor as saying Trump is "very serious" about the 20% fee proposal.
Trump previously laid out a plan for the US to recoup costs equal to 20% of all cargo moving through the strait in exchange for providing security for the waterway.
He has also said the US would become the "guardian of the Strait of Hormuz," blocking only Iranian vessels and Iranian customers while keeping the passage open to other countries on what he described as fair terms.
Markets are watching for higher international shipping and crude transport costs if the US moves ahead with charging for passage through the Strait of Hormuz.
As tensions around the strait persist, investors are also focused on the potential impact on global oil prices, inflation concerns and sentiment toward risk assets including cryptocurrencies.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.