Trump proposes 20% fee on Hormuz Strait cargo, likening U.S. role to 'guardian'

U.S. President Donald Trump has declared the Strait of Hormuz open and vowed it will remain so, with or without Iran's cooperation. He asserted that the United States will henceforth be known as the "guardian of the Strait of Hormuz."

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The Strait of Hormuz is open, and will remain open, with or without Iran. The United States will henceforth be known as the 'guardian of the Strait of Hormuz'

In a proposal that has drawn sharp criticism, Trump suggested that the U.S. should receive a 20% share of the value of all cargo transiting the strait as compensation for guaranteeing its security. This move has been compared to highway robbery by some industry figures.

Economists estimate this fee could amount to approximately $30 million per fully loaded oil tanker. However, Timo Vuori, director of international trade and trade policy at the Confederation of Finnish Industries, finds the proposed fee substantial and the idea of the U.S. guaranteeing security unrealistic. "I think it is quite challenging to implement this in practice. Securing freedom of navigation in the Strait of Hormuz has not been successful in the past either," Vuori stated.

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I think it is quite challenging to implement this in practice. Securing freedom of navigation in the Strait of Hormuz has not been successful in the past either.

The International Maritime Organization (IMO) has indicated that mandatory tolls in the Strait of Hormuz lack a legal basis. Vuori believes Trump's proposal is primarily aimed at boosting his domestic popularity, characterizing it as "new Trump-style creative thinking" and a "clash of sabers" through communication and publicity.

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This is again new Trump-style creative thinking. This is a clash of sabers with communication and publicity.

Maritime professionals who have recently transited the strait reported receiving no prior warning of Trump's potential fee. While it remains too early to assess the impact on their transit decisions, one anonymous captain likened the proposed charge to highway robbery. Iran's Foreign Minister Abbas Araghchi acknowledged the principle of receiving compensation for securing trade vessels but deemed the 20% figure excessive, asserting Iran's historical role as the strait's guardian.

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The matter is serious, they made a mistake and will pay the consequences.