Wall Street Lunch: Trump Demands 20% Hormuz Protection Fee

President Trump imposes a 20% reimbursement fee on all cargo through the Strait of Hormuz, escalating U.S. involvement and impacting global oil prices. SK Hynix and Samsung Electronics plunge after SK Hynix's U.S. debut, dragging the Kospi Index down 9% and pressuring memory and AI-related stocks. Shopify (SHOP) is upgraded to Buy by Jefferies, citing its unique positioning as the infrastructure layer for agentic commerce. SpaceX (SPCX) nears its IPO price amid concerns of upcoming insider selling and a reversal of early index-driven buying dynamics.

Our top story so far, President Donald Trump escalated U.S. involvement in the Strait of Hormuz , announcing a 20% reimbursement fee on all cargo shipped through the critical waterway to offset the cost of U.S. military protection. WTI ( CL1:COM ) and Brent ( CO1:COM ) crude prices are up more than 4% on the news. "The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,' 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," Trump wrote on social media. The president also announced the reinstatement of what he called "THE IRANIAN BLOCKADE," a measure designed to prevent Iranian ships and customers from entering or leaving the strait while guaranteeing "fair and open use" for all other nations. In a separate interview with Fox News, Trump elaborated on the policy shift, saying decades of unpaid protection are over. "We're going to keep the strait, and we'll probably run it," Trump said....