“President Donald Trump just threw out a demand of a 20% reimbursement on cargo shipped through the Strait of Hormuz, or roughly $30 million on full supertankers carrying oil,” Bloomberg reports.

“That’s based on current oil prices of about $80 per barrel. Supertankers can hold about 2 million barrels of crude.”

“In contrast, Iran had been charging as much as $2 million per voyage on an adhoc basis.”

New York Times: Trump’s plan to charge a toll in the Strait of Hormuz: what to know.

“President Donald Trump is ‘very serious’ about his plan to impose a 20% toll on cargo transiting through the Strait of Hormuz, asserting that it’s a plan he’s wanted to move forward with for months,” Semafor reports.

“The president has long flirted with the idea of charging a toll, wondering back in April ‘why shouldn’t’ his administration do so and threatening to impose fees in June if a deal with Iran was not completed within a 60-day period. But Trump doesn’t always follow through with his musings, and until this week, he resisted formally announcing that plan — in part due to opposition from some in his orbit.”

Bloomberg: Trump says U.S. will be reimbursed 20% rate for Hormuz traffic.

“Iran seems to be playing Donald Trump at his own game,” CNN reports.

“The president complained Monday that the Islamic Republic can’t be trusted to honor an agreement, rebuking its rulers for one of his own signature moves.”

“‘It was a done deal, and then they broke it. They always break it,’ he told Fox News of the memorandum of understanding that briefly paused the war. Trump did not seem to appreciate the irony of his critique, given his habit of walking out on multiple international agreements, including the Paris Climate Accord (twice). Some critics would trace America’s current predicament to Trump’s first-term decision to scrap the Obama-era deal capping Iran’s nuclear program.”