Industry insiders say "there is no legal basis" for Trump to impose a 20% fee on cargo transiting the Strait of Hormuz, which could cost tens of millions of dollars per ship.

ALBAWABA- U.S. President Donald Trump announced on Monday a sweeping new policy for the Strait of Hormuz, declaring that the United States will assume t

President Donald Trump said the 20% fee on cargo was necessary to "do the job of providing safety and security" to the region.