On Monday, President Trump initially declared the US as the "guardian" of the Strait of Hormuz and proposed imposing a 20% toll on all cargo passing through the strategic waterway to cover protection costs. He also announced plans to reimpose a naval blockade on Iran to further pressure its struggling economy.

However, within 24 hours, Trump reversed the toll plan. In a post on Truth Social, he stated, "I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." He emphasized that the Strait remains open to all ship traffic except Iran and claimed, "oil is flowing like never before, thanks to the awesome Power of the United States Military."

Following talks in Washington with Iraqi Prime Minister Ali al-Zaidi, Trump remarked, "I don't like the concept of a fee, but at the same time, it's not fair that we're protecting this Strait for the entire world."

US Central Command announced the naval blockade on Iranian ports would take effect from 16:00 Eastern Time (20:00 GMT) on Tuesday, July 15th, 2026.

The ongoing conflict has highlighted the Strait's strategic importance. Tehran has targeted US military facilities in Bahrain and Jordan and previously attacked two United Arab Emirates tankers. Iran accuses the US of interfering with Hormuz's management, and after US and Israeli strikes on February 28th, Iran effectively shut down the waterway, which previously handled about 25% of the world's oil and 20% of global liquefied natural gas.

Trump warned Iran's leaders, "Do not count on things remaining quiet if you attack us."

Sources