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

"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…

President Donald Trump countered Iran's attempts to collect tolls on shipping via the Strait of Hormuz by announcing the US would do so at a rate of 20% for all cargo transiting…