General U.S. News54m ago
President Donald Trump on Monday asserted that the US would once again start blocking Iranian ships passing through the Strait of Hormuz and proposed a 20% fee for all other cargo shipped through the waterway. Trump’s announcement that ‘the US would act as the Strait's GUARDIAN’ further escalated ongoing tensions with Iran, deepening the crisis over control and access to one of the world's most critical shipping routes. “The U.S.A. will be, from this point forward, known as ‘THE GUARDIAN OF THE HORMUZ STRAIT,’ but as such, and as a matter of FAIRNESS, 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,” Trump said in a Truth Social post on Monday. Trump proposed that the U.S. would act as the 'Guardian of the Hormuz Strait' and charge a 20% fee on all cargo shipped through the waterway for providing maritime security. The proposed 20% fee could significantly increase shipping costs, potentially raising fuel prices globally, as it would amount to approximately $32 million for a fully loaded oil tanker at current prices. Many shipping industry professionals expressed skepticism due to the lack of details on the implementation and the high fees that could make cargo transit unaffordable. Sanchari Ghosh is an Assistant Editor at Mint with over 12 years of experience in journalism, specialising in personal finance, DLT & DeFi, geopolitics and foreign policy, with a particular emphasis on how these areas intersect. <br> She writes extensively about how money works in everyday life—helping readers navigate personal finance decisions. <br> As AI reshapes investing behaviour, capital is increasingly flowing into decentralized ecosystems, redefining how assets are managed, traded, and valued. She focuses on explaining how money flows within frameworks like Distributed Ledger Technology (DLT), DeFi protocols, and crypto markets—while also exploring what the future of money could look like in a trustless, programmable financial world. <br> She also focuses on immigration-related issues, simplifying complex topics around visas, passports, overseas financial planning, and the many practical challenges Indians face while moving or living abroad. <br> Alongside personal finance, Sanchari has a strong understanding of international politics, contemporary and historical conflicts, and global state decisions. Before joining Mint in 2020, she worked DNA, The Times of India, Outlook Money, BloombergQuint, and ETMoney. At Mint, she got an opportunity to expand her coverage to include immigration and geopolitical developments while continuing to closely follow personal finance trends and market movements.As a journalist, she is committed to accuracy, intellectual rigour, and fairness. <br> She is an English Major and her work took her across cities including Delhi, Mumbai, and Pune. Stay updated with the latest Trending , India , World and US news.
