Trump proposes 20% toll on cargo through Strait of Hormuz; restarts Iran blockade

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.'s rapidly reescalating war with Tehran.