Washington, June 21 (QNA) - US President Donald Trump announced that ships will not face any transit fees using the Strait of Hormuz after the 60-day period stipulated in the US-Iranian memorandum of understanding, while threatening to impose US tolls later if negotiations with Iran fail.

The US president wrote on the Truth Social platform, "There ​will be NO TOLLS in the ​Hormuz Strait for 60 days during the Cease Fire Period, and there ​will be NO TOLLS ​after the 60 day period has expired."

He added that there will be no fees unless ⁠they are imposed by and for the United States of America, should the deal not ​be ​completed for purposes of both past, present, and future reimbursement ⁠of ​costs.

These statements come as the United States and Iran head to Switzerland for a new round of negotiations aimed at reaching a final agreement on outstanding issues between them, most importantly Iran's nuclear program, the lifting of US sanctions, and the permanent reopening of the Strait of Hormuz. (QNA)