Trump’s Hormuz toll plan could backfire, global shipping industry warns — here’s why

AI Summary

The global shipping industry warns that Trump's proposed toll plan for passage through the strategic Strait of Hormuz could backfire and is fundamentally flawed, as shipping companies reject charging tolls for international waters. Hapag-Lloyd criticizes the plan citing international maritime law concerns.

For shipping giant Hapag-Lloyd, it is "fundamentally wrong" to charge tolls for passage through international waters, regardless of the country in charge.