The United States and Iran have signed an interim agreement aimed at ending months of conflict and reopening the Strait of Hormuz, one of the world's most critical shipping lanes.

But even as hopes rise for a return to normal trade, tensions are emerging over Iran's plan to charge ships transit fees for passing through the strait. US President Donald Trump argues such charges violate international law, while major shipping firms warn the move could set a dangerous precedent for global commerce.

Could the end of the conflict spark a new economic showdown? And what would it mean for global shipping, energy markets, inflation, and the prices consumers pay every day?

On The Big Story, Hongbin Jeong speaks with Cedomir Nestorovic, Professor of Geopolitics, ESSEC Business School, Asia-Pacific, to find out more.