Vance says U.S. expects Strait of Hormuz to be open 'toll free' long term

Vice President JD Vance said Monday he expects the U.S.-Iran deal will open the Strait of Hormuz without tolls for the long term, but shippers say the arrangement to cross the sea lane remains unclear. "Our expectation is that the strait is going to be opened in a toll-free way for the long term, and that's the sort of thing that we're going to figure out in these technical negotiations," Vance told CNBC's "Squawk Box" in an interview. …