Blockade in the Strait of Hormuz is Back in Effect: US Demands 20% Tariff

US President Donald Trump announced that the US will reinstate a naval blockade on Iranian ports and impose a 20% tariff on all goods transported through the Strait of Hormuz.In a statement at the Oval Office, Trump said that Gulf countries will have to pay the US for protecting the Strait of Hormuz.

We are protecting a very wealthy part of the world. We are spending money. So what we are doing is, we are going to get reimbursed for this protection.

Additionally, Trump stated that the US aims to completely destroy Iran's military capabilities in the Strait of Hormuz:

We are completely eliminating their capabilities in the Strait of Hormuz and I think in the end they will get out of control

US Secretary of State Marco Rubio had also met with Gulf leaders last month, opposing Iran's demand for a toll on ships passing through the strait.