India, July 13 -- US President Donald Trump on Monday announced that the United States would impose a 20 per cent charge on all cargo shipped through the Strait of Hormuz, saying the fee would cover the costs of securing one of the world's busiest maritime trade routes.

In a post on his social media platform, Truth Social, Trump declared that the US would henceforth be known as "The Guardian of the Hormuz Strait."

"The USA will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT'... and, as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security," Trump wrote.

He added that the process of implementing the polic...