Trump announces U.S. will charge 20% fee on cargo to keep Strait of Hormuz open...

President Donald Trump announced that the United States will assume control of the Strait of Hormuz. Washington will impose a 20 percent fee on all cargo transiting the waterway to cover costs of providing safety and security.

The measure targets the volatile passage used for oil shipments from the Persian Gulf region. Trump described the fee as necessary for operations in this strategic area.