The 26% increase in imports was caused in part by softer import volume in May 2025, when many cargo owners temporarily paused shipments because of changing tariff policies.
Under the agreed provisions, the EU will cut tariffs to zero on American industrial goods, and the U.S. will keep tariffs on many European goods at around 15%
Even if traffic fully returns to the strait when (or if) the deal becomes official, the months-long global oil supply crisis won't simply resolve itself overnight.