United States President, Donald Trump on Monday, announced that his administration would impose a 20 per cent security charge on all cargo shipped through the Strait of Hormuz, saying the levy would cover the cost of ensuring safety and security in the strategic waterway.
In a post on Truth Social, Trump said the Strait of Hormuz would remain open “with or without Iran,” adding that the United States was reinstating what he described as “the Iranian blockade,” which he claimed would only affect Iranian ships and their customers.
According to him, vessels from all other countries would continue to enjoy unrestricted access to the strait.
Trump further declared that the United States would henceforth be known as “The Guardian of the Hormuz Strait,” arguing that countries using the waterway should reimburse Washington for the costs of maintaining security in the volatile region.
“As a matter of fairness, the U.S.A. will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World,” Trump wrote.
He added that the process of implementing the new policy would begin immediately.
