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Trump Ends Hormuz Fee, Guarantees Vessel Passage, Inflation Looms

7/15/2026

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Summary

Story summary

U.S. President Donald Trump said United States will guarantee passage for Persian Gulf vessels that invest, ending the Strait of Hormuz fee proposal.
Industry leaders warned the policy shift could raise shipping costs and spur consumer inflation.
Jakob Larsen, BIMCO chief safety and security officer, warned monetizing the strait could weaken conventions and raise transport costs for customers.

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Story summary

U.S. President Donald Trump said United States will guarantee passage for Persian Gulf vessels that invest, ending the Strait of Hormuz fee proposal.
Industry leaders warned the policy shift could raise shipping costs and spur consumer inflation.
Jakob Larsen, BIMCO chief safety and security officer, warned monetizing the strait could weaken conventions and raise transport costs for customers.