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macroJul 13, 2026, 2:27 PM

Trump Says Strait of Hormuz Open, Reinstates Iran Blockade, Proposes 20% Fee

President Trump announced the Strait of Hormuz will remain open, reinstated the Iranian Blockade, and proposed a 20% reimbursement fee on cargo shipped through the waterway to cover U.S. security costs.

President Trump has stated that the Strait of Hormuz will remain open. He also announced the reinstatement of what he called the "Iranian Blockade" and proposed a 20% reimbursement fee on cargo shipped through the waterway. The fee is intended to cover U.S. security costs associated with maintaining safe passage.

The announcement marks a significant geopolitical development concerning one of the world's most important oil transit chokepoints. The proposed fee could impact shipping costs and global oil prices.

Source: Cointelegraph