How to Think About a Hormuz Navigation Toll
The idea that the United States might accept an Iranian fee regime in the Strait of Hormuz has produced something close to panic in the usual quarters.
The hysterics claim that acquiescing to a fee for passage through the strait would violate international law, make the U.S. complicit in piracy , and betray everything America has ever stood for. It’s the familiar tone of scolding and fear-mongering: once again, that reckless Trump is going to derail the world.
Yet that’s a misreading of our history. America was not founded on the doctrine that every strategic waterway must remain toll-free forever…
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