In a recent statement on his social media platform, Truth Social, President Donald Trump declared that no tariffs would be imposed on maritime traffic through the Hormuz Strait, unless a deal with Iran fails to materialize.
Trump emphasized that during a 60-day ceasefire and after its conclusion, vessels would transit the strait without incurring fees. He noted, however, that the U.S. could introduce tariffs if the negotiations with Iran do not succeed, framing it as a means of compensating for past, present, and future costs associated with providing security in the region.
“During the 60-day ceasefire in the Hormuz Strait, no tariffs will be charged, and after this period, tariffs will also not be imposed unless the United States decides to implement them for its benefit if an agreement is not reached with Iran,” Trump stated.
This announcement comes in the wake of heightened tensions, as Iranian military leadership claimed on June 20 that the Hormuz Strait would be closed again due to alleged violations by the U.S.
On June 15, Trump had previously announced a peace agreement with Iran, which would require Tehran to fully reopen the Hormuz Strait for commercial shipping. In return, the U.S. would lift its naval blockade on Iranian ports.
Initially, a formal signing ceremony for the memorandum was anticipated to take place in Switzerland on June 19. However, on June 18, the U.S. and Iran signed a memorandum of understanding aimed at ending hostilities, which is now in effect. Despite this progress, Trump reiterated the possibility of resuming military actions if Iran fails to uphold its commitments.
The framework agreement that the U.S. and Iran are expected to finalize includes provisions for a $300 billion investment fund for the Iranian economy. Additionally, the U.S. plans to allow Iran to commence oil and fuel sales immediately as part of the ceasefire agreement.
President Trump has announced that no tariffs will be imposed on shipping through the Hormuz Strait unless a deal with Iran fails. This statement follows a recent peace agreement aimed at reopening the strait and lifting U.S. sanctions on Iranian ports.