Trump: US to seize Strait of Hormuz and charge 20% fee on all cargo

Full text

President Donald Trump on Monday said the U.S. will take over the Strait of Hormuz — and will be reimbursed “at the rate of 20% on all cargo shipped” for overseeing one of the world’s most critical oil passageways that has been at the center of the U.S.’s re-escalating war with Iran.

“We will become guardians of the strait,” Trump said during an interview with “Fox & Friends” on Monday morning. “We’re going to hit [Iran] very hard and keep the strait, and probably run it.”

His comments arrive on the heels of fresh strikes in the Gulf, where Iran and the U.S. exchanged heavy fire over the weekend.

Trump followed his Fox News interview with a Truth Social post, where he said the U.S. will reimpose a blockade on Iran.

“All other countries will have fair and open use of the Strait,” he said, but added that “as a matter of FAIRNESS, [the U.S.] 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.”

This is a breaking news story that will be updated.