Latest / Mallen Baker: Faultlines
Trump Panics And Instantly Caves On Tolls For Strait of Hormuz
President Donald Trump outraged much of the world yesterday when he announced his latest bold and audacious venture - a Strait of Hormuz protection racket. The US would promise to protect ships wanting to transit through the Strait, in the face of hostility by the Iranians, in return for a toll charged at a massive 20% of the value of the ship's cargo. The gulf states particularly were furious, and clearly made their displeasure known - with the result of one of the fastest u-turns ever. But also gathering clouds for a big announcement on Thursday. Let's discuss.
The skinny
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