Trump says US will begin charging tolls in Strait of Hormuz if final Iran deal not reached in 60 days
Key takeaways
- Trump claimed in a Truth Social post that there would be NO TOLLS in the waterway during or after the ceasefire period unless the two sides fail to reach a final agreement by then.
- The Gulf channel, which transports about 20 percent of the world s daily oil supply during peacetime, has served as Iran s main point of leverage in the conflict.
- Its on-again, off-again blockade has choked off supply routes, roiling the global economy and causing crude oil prices to briefly peak at near record-highs of $126 per barrel in late April.
Why this matters: political developments that affect policy direction and public trust.
Trump claimed in a Truth Social post that there would be NO TOLLS in the waterway during or after the ceasefire period unless the two sides fail to reach a final agreement by then.
…there will be NO tolls after the 60 day period has expired, unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs, the president wrote from Camp David, where he is spending the weekend.
Trump may be referring to the U.S. military initiative that has helped safely guide commercial vessels through the Strait of Hormuz, including an early June operation that he said secretly moved over 100 million barrels of oil and 200 ships.