Hello, this is Leonie Kidd coming to you from London. President Trump's demand that traffic through the Strait of Hormuz pay a 20% toll as reimbursement for protection has shocked the international community. It marks a new twist in the conflict with Iran and puts investors back on edge following the effective collapse of the ceasefire. It's a crude reality for oil markets, which are higher once again after posting the biggest one-day surge since the COVID era on Monday. The move was sparked by President Donald Trump 's decision to reinstate a naval blockade in the Strait of Hormuz. He took to Truth Social : "The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,'" he claimed. "But as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World." "The process and formation will begin immediately," he added. The move has sparked concern across the international community. The UN's maritime agency said on Monday there was " no legal basis through which to introduce mandatory tolls," while the CEO of Nordic American Tankers, Herbjorn Hansson, told CNBC in an interview that he views Trump's 20% fee as unrealistic, saying "Iran is suffering, America is suffering, 192 countries outside the Hormuz Strait are suffering." U.S. Central Command said it has completed another five-hour mission striking targets across Iran. It marks the third consecutive night of attacks in retaliation for the strikes on commercial shipping in the Strait. Meanwhile, Jordan has intercepted and downed four missiles that entered the country's airspace from Iran, while sirens have sounded in Bahrain for the third time on Tuesday. Ukraine and its allies have agreed to an air-defense coalition to tackle Russia's ballistic missile threat. The so-called Coalition of the Willing met in Paris on Monday, including 10 countries and several defense firms. "The more means Ukraine has to shoot down Russian ballistic missiles, the greater the chance that Putin will come to the negotiating table, as his last argument in this war will no longer work," Ukraine's President Volodymyr Zelenskyy said after Monday's announcement. It's a busy day for economic data releases. Chinese exports rose at their fastest rate since 2021 in June. Booming demand for AI hardware, as well as a race by U.S. retailers to get ahead of anticipated tariff hikes, has supported the data. Meanwhile, later today, economists expect the U.S. consumer price index to show a drop of 0.2% for June, driven lower by a 25% plunge in energy prices over the month. However, core inflation is expected to rise 0.2% , with the annual rate at 2.8% well above the Fed's 2% target. Listing is a must’: Chinese humanoid startups are rushing to launch IPOs BEIJING Humanoid startup LimX Dynamics is getting ready to go public, just over four years after...
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