Trump Announces US Will Charge 20 Percent Fee for Ships Transiting Strait of Hormuz

The Trump administration has announced what it calls a "guardian of the Strait" policy charging vessels a 20 percent transit fee through the Strait of Hormuz while blocking Iranian ships entirely. This comes as an alternative to Iran's Traffic Separation Scheme which charges only 1.5 percent. The policy represents a major escalation in US control over the waterway through which 20-30 percent of the world's oil flows.