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Updated - June 25, 2026 at 08:19 AM.

U.S. President Donald Trump speaks to reporters on the day of a Senate Steering Committee Lunch on Capitol Hill in Washington, D.C | Photo Credit: REUTERS/EVELYN HOCKSTEIN

President Donald Trump said tolls on ships sailing in the Strait of Hormuz would be a red line issue for the US in negotiations with Iran.

Asked if he would reject a final Iran deal if it included any service or shipping fees in the strait, Trump said that he would.

“It would be unacceptable to me, because we have numerous strengths, and if you did that for them, you’d have to do it for other people,” the president told reporters at the White House on Wednesday. “It would be a game changer.”

The comments represent his most definitive statement yet about possible maritime service fees and shipping tolls that could be imposed in the strait, a crucial waterway for transporting crude, natural gas, fertilizer and other commodities.

Iran sought to claim control of the strait after the US and Israel launched strikes against the country, denying passage to ships that hadn’t been pre-authorized and effectively shutting down the waterway. The country has since signaled that it plans to administer the strait, either alone or in conjunction with neighboring Gulf states. 

Last week, for example, Iran said that ships need its permission to cross the waterway and would require a mandatory insurance policy to do so. That policy is free for now, but could potentially pave the way for fees down the line. 

At the same time, the global shipping industry and countries outside the region reliant on maritime goods have warned against allowing Iran to normalize fees, arguing it could open the door to tolls on other critical international shipping lanes.

A memorandum of understanding between the US and Iran rules out transit charges for a 60-day negotiation period. Afterward, however, it leaves room for a new arrangement to be developed between Oman and Iran with other gulf countries.

In a joint statement released earlier Wednesday, Iran and Oman announced that they’d be starting the process to reach to an agreement over the future administration of the strait — including the cost of managing transit.

“I know of no country on the planet that supports tolling or a fee for the use of the straits,” Secretary of State Marco Rubio said Wednesday. “That’s not going to happen.”

More stories like this are available on bloomberg.com

©2026 Bloomberg L.P.

Published on June 25, 2026

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