Trump announces 20% charge on cargo through Hormuz, says US will guard key shipping route
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US President Donald Trump on Monday said the United States will impose a 20 per cent charge on all cargo shipped through the Strait of Hormuz and that the US military will reinstate the Iranian port blockade.
In a post on Truth Social, Trump said the US would assume responsibility for securing the strategically important waterway and should be reimbursed for the costs involved.
"The USA will be, from this point forward, known as 'The Guardian of the Hormuz Strait'... and will be reimbursed, at the rate of 20% on all cargo shipped, for the costs necessary to provide safety and security," Trump said.
In an interview with Fox News, Trump said the US would "keep the strait" and "probably run it", adding that the country should be paid by other nations benefiting from the security arrangement.
The announcement comes as the Strait of Hormuz, through which around 20 per cent of global oil and gas supplies pass, remains at the centre of tensions in West Asia. The reported disruption to shipping has pushed up global oil and energy prices.
According to the report, India could be significantly affected, as around 40 to 50 per cent of its oil imports passed through the Strait of Hormuz before the conflict.
Trump also accused Iran of backing away from an agreement, saying, "We had a deal... then they broke it," and warned that the US would respond forcefully.
Meanwhile, Iran's Islamic Revolutionary Guard Corps (IRGC) said normal commercial shipping through the Strait of Hormuz would resume only if the US ended its military presence in the waterway. It warned that continued intervention could lead to greater disruption in the global oil and gas sector.
The report said US and Iranian forces continued to exchange fire, with Tehran claiming attacks on US military bases across Gulf countries while shipping through the Strait of Hormuz remained suspended.
