Trump announced in July that the United States would charge a 20 percent fee on all cargo shipped through the Strait of Hormuz.
The potential expense of moving oil and other goods through the strait has stirred concern among shippers. Analysts suggest that the toll could more than double the cost of transporting oil from the Gulf to Europe.
Industry insiders have stated that there is no legal basis for Trump to impose the fee, which could cost tens of millions of dollars per ship.