New York Times: What's known about Trump's plan to impose tariffs on the Strait of Hormuz

2026-07-14 14:50:00, Kosova & Bota CNA

New York Times: What's known about Trump's plan to impose tariffs on

Amid renewed tensions, US President Donald Trump said on Monday he would impose a 20% tariff on all cargo passing through the Strait of Hormuz.

The statement contradicts previous positions of his administration officials, while such regulations are considered direct violations of international law.

Before the conflict began in February, about 20% of the world's oil supply passed through this energy corridor, which was a critical artery for global energy supplies.

The prestigious American media outlet 'New York Times' explains what the effects of a possible American tariff on global maritime transport would be.

A memorandum of the temporary ceasefire agreement stated that neither country would collect taxes, although it left open the possibility of imposing such measures after 60 days.

What are the implications for shipping and markets?

The newspaper reports that, according to experts, a 20% tariff on the value of a ship's cargo could double the cost of transporting oil.

For a large tanker carrying two million barrels of oil, for example, the tariff could add more than $30 million to the cost. As a result, consumers are likely to face higher prices.

On the other hand, for shipping operators in the region, the prospect of tariffs is currently less worrisome than an escalation of the conflict between Iran and the United States, experts said.

Where else are there taxes?

Another waterway, the Strait of Malacca in Southeast Asia, through which about 23 million barrels of oil pass per day, is a critical example.

Ships passing through this strait, which is jointly managed by Singapore, Indonesia and Malaysia, pay fees when they need certain services, such as towing assistance or help navigating narrower sections.

However, ships do not charge tolls for the crossing.

The political environment is also different in this case, where three countries are responsible, without significant conflicts and security issues.

How is Iran reacting?

Since Tehran effectively blocked the waterway, taking advantage of the conflict, Iranian officials have repeatedly stated their intention to exploit the Strait of Hormuz.

In this context, the NYT concludes, Iran and Oman, which is located on the southern side of the strait, are reportedly exploring ways for both countries to take advantage of the situation and load ships passing through the strait.