Trump Sets 20 Percent Fee on Strait of Hormuz Cargo

President Trump announced a 20 percent fee on cargo transiting the Strait of Hormuz. A White House official said Trump is “very serious” about the toll and has wanted to advance the plan for months. The official added that the idea was Trump’s instinctual preference but faced resistance from others in his orbit until this week.

He had publicly raised the possibility in April and threatened fees in June if no deal with Iran was reached within 60 days. The announcement marks the first formal step to implement the toll after those earlier statements.

The White House did not release a start date or list of exempted vessels. Officials said further guidance would come from relevant agencies in the coming weeks.