Hormuz U-turn, ICE vehicle stops and Ukraine government shakeup
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What is the main topic discussed in this episode?
Hi, I'm Elena Casas in London. It's Wednesday, July 15th. Today, Trump drops his 20% transit fee for the Strait of Hormuz. ICE suspends traffic stops after deadly shootings in Maine and Texas.
Why did President Trump drop the proposed 20% Strait of Hormuz transit fee?
Ukraine's government undergoes a surprise reshuffle. And Spain shatters France's World Cup dream. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week.
because I don't think anybody should be able to charge a fee for the Strait or for any other Strait.
President Trump is backing off a plan to charge ships a 20% fee to pass through the Strait of Hormuz hours before it was set to begin, saying he would seek investment deals with Gulf states instead, calling it a, quote, reimbursement fee.
The Gulf states are going to invest a tremendous amount of money into the United States, and that was very satisfactory to me.
The shift comes as tensions in the region continue to escalate. There are new reports of strikes inside Iran. And in Kuwait, air defence systems are on alert. Reporter Trevor Hunnicutt is at the White House.
When the president floated this idea of there being a toll that was imposed by the United States, that was immediately met with a negative reception by shipping companies, by the United Nations, by the United States allies in the Gulf. All of them thought that was a negative idea. But Trevor says with strikes intensifying, this pivot could be more of a strategic one. And so this could be a negotiation tactic. And we don't know how far kind of up the escalation ladder we're moving. President Trump said in a letter, a notification to Congress that this was a resumption of the conflict. But whether that means a full scale war and exactly what targets he wants to go after is one of the big open questions this week.
That uncertainty over the flow of ships through the Strait of Hormuz continues to hang over the global economy, even as US inflation slowed in June to 3.5% year over year, according to the Bureau of Labor Statistics. Fed Chair Kevin Walsh was on Capitol Hill on Tuesday and addressed that promising inflation figure, acknowledging that there was still work to do on consumer prices.
I reviewed the data that came out this morning on CPI and it was positive relative to expectations. I'm not for cherry picking. I'm not going to show up here and say mission accomplished.
Walsh also pushed back on suggestions that political pressure from the White House would influence his decisions, promising to do his job if challenged by President Donald Trump. For more markets news, don't miss our sister podcast, Morning Bid, available wherever you get your podcasts. ICE has suspended most vehicle stops nationwide after agents fatally shot two men in six days during enforcement operations in Texas and Maine. Neither man was the target of their respective operations. And in the Maine shooting on Monday, the victim was Johann Sebastian Duran from Colombia, who was authorized to work in the U.S.
No more hate! No more fear! No more hate! No more fear!
The killing has sparked tensions on the ground in Maine.
Outside an ICE facility in Scarborough, protesters on both sides of the issue faced off.
Officials have not explained how the driver might have posed a threat to the public or whether that would justify the shooting. According to ICE policy, officers may use deadly force only where there's imminent danger. Christina Cook covers immigration.
This is a pretty significant shift because after the operations earlier this year, the broad sweeps that we saw in Minneapolis and in Chicago, ICE kind of went back to doing what they call targeted enforcement, where they... have a list of targets that they go out and arrest, and they do that often via traffic stops or by staking out somebody's home. And so, you know, the question is going to be is, are they going to be able to keep up that pace of arrests if they're no longer doing traffic stops? Potentially this is ICE just taking a step back, saying maybe we need to look at our training, maybe we need to figure out is something going wrong here.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:17
2
Why did President Trump drop the proposed 20% Strait of Hormuz transit fee?
0:17–4:54
3
How are Gulf investment deals replacing the Strait of Hormuz toll plan?
4:54–7:37
4
What are the latest security escalations and strikes in the Gulf region?
7:37–9:29
Speakers
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