Trump reverses course in a day, scraps Strait of Hormuz toll

【Financial News, New York = Lee Byung-chul, correspondent】U.S. President Donald Trump abruptly withdrew his plan to impose a 20% toll on merchant ships passing through the Strait of Hormuz, just one day after announcing it. As legal concerns and internal resistance grew, he opted instead for expanded trade and investment ties with Gulf countries. He did, however, keep pressure on Iran by moving ahead with a maritime blockade as planned.
On the 14th local time, Trump wrote on Truth Social that, after "very productive talks with Middle East leaders," he had decided to replace the 20% fee for U.S. maintenance costs with trade and investment agreements from Gulf countries.
Just a day earlier, Trump had announced that merchant vessels transiting the Strait of Hormuz would be charged a 20% toll, declaring that the United States would take on the role of "guardian" of the waterway through which about 20% of the world's crude oil supply passes. But the announcement immediately drew criticism that it could undermine freedom of international maritime traffic, along with accusations that it violated international law.
The White House and the administration were also thrown into confusion. Right after Trump announced the toll plan, aides scrambled to determine which ministry would actually handle collection. Some argued that the Treasury should take charge, while others said the Energy Department should oversee it, given the route's role as an oil transport corridor.
Officials had initially planned to hold follow-up meetings with the White House to flesh out the toll proposal. But the policy was effectively scrapped in less than a day.
There was also considerable opposition within the administration. In June, Secretary of State Marco Rubio publicly took a negative stance, saying, "The Strait of Hormuz is an international waterway, and no country can impose tolls or fees on an international waterway."
Even so, while Trump dropped the toll plan, he intensified pressure on Iran. He said the maritime blockade on Iranian ports, which had been lifted under last month's ceasefire agreement between the United States and Iran, would be reinstated as scheduled. With the two sides recently resuming military action, the ceasefire has effectively collapsed, and the U.S. military is set to reimpose the blockade from 4 p.m. Eastern time on the same day, he explained.
The move is being interpreted as Trump choosing a more practical economic outcome — attracting investment from Middle Eastern oil producers — over a highly controversial toll plan, while taking into account pushback from the global shipping industry and U.S. allies.

[email protected] Reporter Lee Byung-chul Reporter