Trump says Iranian ships and those trading with Iran will be barred, while other commercial traffic will pay a 20% transit fee.

President Donald Trump on Monday said the US is “reinstating” a blockade on Iran in the Strait of Hormuz and will charge ships a “rate of 20 percent on all cargo shipped” through…

"We're going to be reimbursed, because the other nations are very wealthy. They're on our side, and we can't be expected to do that for nothing," Trump said earlier in a phone…