The U.S. launched strikes on Iran on Monday as Trump announced a reinstatement of the Strait of Hormuz blockade and a 20% toll on cargo passing through the waterway—a significant shift from decades of American policy guaranteeing free passage through the critical shipping route. Iran retaliated by attacking tankers transiting the strait, marking an escalation in the ongoing U.S.-Israel war with Iran that began in late February 2026. The toll policy is unprecedented for the U.S. and could reshape global energy markets and shipping costs if enforced, as roughly 21% of global oil passes through the strait.