US Reverses Iran Deal, Blockades Ports and Imposes Strait Tariffs

The US Navy blockaded all Iranian ports on July 13, 2026, as Trump announced a 20% tariff on cargo through the Strait of Hormuz—undoing a June agreement that had kept the vital passage toll-free. The JMIC warned of interception and force against unauthorized vessels. Iran rejected US authority over the strait and declared it closed. Brent crude jumped 7.8% to $81.92 per barrel.