CNBC
President Donald Trump on Monday said the U.S. will impose fees in the Strait of Hormuz “at the rate of 20% on all cargo shipped,” after declaring America the “guardian” of the major oil shipping route.
Trump, in a Truth Social post, also said the U.S. will reimpose its blockade of Iranian ports near the strait, the epicenter of the U.S.′ rapidly reescalating war with Tehran. The blockade will resume Tuesday at 4 p.m. ET, U.S. Central Command said.
The U.S. has rejected Iran’s own plans to charge tolls to ships passing through the strait, which maritime experts, regulators and even top Trump administration officials have said is illegal under international law. But rather than call for the return of the strait to its prewar status as a toll-free international waterway, Trump’s post asserts that commercial vessels attempting the transit must now pay protection money to the U.S.
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