Leading global corporations and shipping industry representatives have reacted with sharp criticism to Donald Trump's proposal to introduce transit fees in the Strait of Hormuz. According to a report by the authoritative Japanese publication Nikkei, business defines the planned measures as excessive and dangerous for the global economy.
Representatives of the affected industries were categorical that the proposed fee of 20% of the value of the cargo is “completely impossible to pay“. The Strait of Hormuz is among the most important sea routes in the world, through which one-fifth of the world's oil shipping flows.
Experts warn that the possible imposition of such taxes would lead to:
- Drastic jump in energy prices.
- Collapse of international supply chains.
- Financial pressure on end-users on a global scale.