President Donald Trump announced the reinstatement of what he called an 'Iranian blockade' and proposed a 20% fee on cargo passing through the Strait of Hormuz in exchange for U.S. protection.

The U.S. and Iran have made conflicting statements about whether the Strait of Hormuz is open to shipping traffic.

WASHINGTON -- US President Donald Trump said Monday that the United States was reinstating a naval blockade on Iran in the Strait of Hormuz.