U.S. President Donald Trump said he is considering a plan for the United States and Iran to jointly collect tolls in the Strait of Hormuz. The idea appears to seek a compromise between Iran retaining control of the strait and the urgent need to keep it open, while reflecting President Trump’s characteristic business-minded approach. However, experts called it unrealistic and unworkable.

On the 8th (local time), in a phone call with an ABC reporter, when asked “whether he could accept Iran imposing a toll,” he said, “We are thinking about pursuing this as a joint venture,” adding, “It could be a way to protect the strait from many other actors.” He then said, “That would be really great.”

White House spokesperson Caroline Levitt also said at a briefing that it was “an idea proposed by the President” and would be “a subject that will continue to be discussed over the next two weeks” in negotiations with Iran.

President Trump has floated this notion several times. In March, after European and Asian allies rejected requests to send warships, he asserted that “the strait will be jointly controlled by me and the next Ayatollah,” and at a press conference on the 6th he also said, “How about we charge a toll.” The day before, on Truth Social, he said “the United States will help ease the traffic congestion in the Strait of Hormuz,” adding that “significant profits will be generated, and Iran can begin a reconstruction process.”

His remark about a ‘joint venture’ goes a step beyond allowing Iran to collect tolls, signaling that the United States also wants a piece of that revenue stream. Although no specific structure was offered, it may envision partial U.S. participation in toll collection to secure revenue in the nature of a ‘management fee.’

However, experts judged the idea unrealistic. Melanie Sisson, a fellow at the Brookings Institution, told the China Morning Post, “Joint management could in effect remove Iran’s leverage in deterring future U.S. attacks; why would Iran choose to give up its strongest bargaining chip.”

Mark Cancian of the Center for Strategic and International Studies (CSIS) also noted, “This would be an attempt to tax oil shipments based on military power rather than legal authority, and it is unlikely that Gulf oil producers or oil-importing countries around the world would accept such a plan.”

That said, it cannot be completely ruled out that Iran might consider giving the United States a portion of the tolls to maintain control over Hormuz and obtain concessions on issues such as the right to enrich uranium.

As the likelihood grows that President Trump will allow a Hormuz toll, the oil industry faces immediate pressure. A consultant in the oil sector who requested anonymity told Politico that “oil company executives are contacting the White House, Secretary of State Marco Rubio, and Vice President J D Vance to protest a Hormuz toll.”

Industry representatives also met separately with senior State Department officials on the morning of the same day, conveying the concern that “if Iran’s demands are accepted, higher tolls and insurance premiums would add $2.5 million (about 3.7 billion KRW) per shipment and ultimately be passed on to consumers.” They added, “It could also set a precedent that prompts countries such as Singapore and Turkey to consider levying tolls on key trade routes like the Strait of Malacca and the Bosphorus Strait.”