President Trump declared the US the “Guardian of the Hormuz Strait” on July 13, announcing a 20% fee on the value of all cargo transiting the waterway. Crypto markets promptly shed over $20 billion in value.
The Strait of Hormuz is essentially the world’s most important bottleneck. Roughly one-fifth of the global oil supply passes through it daily.
What Trump is actually proposing
The announcement, made via Truth Social and amplified through Fox News interviews, frames the fee as reimbursement for US naval security operations in the region.
Alongside the toll, Trump confirmed the reinstatement of a naval blockade on Iranian vessels while pledging “fair use” access for other nations’ shipping traffic. The move comes amid escalating US-Iran military tensions that have already included retaliatory strikes between the two countries.
