U.S. strikes Iran for third night as Trump ends truce, announces blockade

Transit tax: An unprecedented and contested measure

Trump announced a 20% tax calculated on cargo value for any vessel transiting the Strait of Hormuz. He justified the measure by saying the U.S. needs compensation for providing secure escort for ships through this strategic passage.

The New York Times estimated the tax would amount to roughly $30 million per passage for a large tanker. Under international law, international waters are freely navigable for all, without charges.

Shipping companies and logistics firms would pay the tax on the spot but would pass it along to their end customers. All goods transiting the strait would thus become more expensive, fueling global inflation.

International reactions

20% is too much. We will be fair.

— Iranian Foreign Minister, on X

Iran, which has itself already collected transit fees, responded with mockery, claiming it has always been and remains the "guardian" of the Strait of Hormuz.

Brazilian President Luiz Inácio Lula da Silva called the tax "piracy."

Economic and political stakes in the U.S.

SRF economic journalist Charlotte Jacquemart believes the announcement is not politically favorable to Trump. It comes amid growing U.S. budget deficits and declining investor confidence in capital markets, just months before the midterm elections scheduled for fall 2026.

What remains uncertain

The concrete details of how the naval blockade and transit tax will be implemented have not yet been clarified. The extent of damage caused by U.S. strikes on Iran's southern coast is not yet known.

The possibility of resuming negotiations within the timeframe set by the truce remains open but is not yet confirmed.

15 August 2026 at 14:10

19 August 2026 at 04:56