WASHINGTON—U.S. President Donald Trump on Monday announced the reinstatement of the “Iran blockade” and proposed imposing a 20% fee on cargo transiting the Strait of Hormuz in exchange for U.S. protection of the strategic waterway.
“The Strait of Hormuz is open and will remain open with or without Iran,” President Trump said on his platform “Truth Social.”
“We will reinstate the Iranian blockade, so named because it only blocks the entry and exit of Iranian ships and customers. All other countries will have fair and open use of this strait,” he added.
President Trump said the United States is responsible for securing the critical shipping lane and will seek compensation from cargo carriers that use it.
“As the United States will henceforth be known as the ‘Guardian of the Strait of Hormuz,’ and as a matter of equity, any costs necessary to carry out the work of providing safety and security to this highly volatile region of the world will be reimbursed at a rate of 20 percent of all cargo transported,” he said.
President Trump added that the policy will take effect immediately.
