US sets Tuesday Iran port blockade, 20% Hormuz cargo toll

President Donald Trump said the United States will begin blockading maritime traffic to and from Iranian ports on Tuesday and impose a 20% charge on other cargo moving through the Strait of Hormuz. The order follows another round of US-Iran strikes after Iran fired at a commercial ship over the weekend. US Central Command said the blockade starts at 4 p.m. ET Tuesday and that US forces struck dozens of targets in Iran, including air defense systems, radar sites, missile and drone equipment, and small boats. Iran's Foreign Minister Abbas Araghchi pushed back on US control of the strait but signaled Tehran could accept compensation for secure passage. Oil prices briefly jumped nearly 5% before easing.