Trump announced the U.S. will reimpose a naval blockade on Iran and will demand reimbursement on all other cargo shipped through the waterway.

The move comes after the U.S. and Iran exchanged fire for the third weekend in a row, raising the specter of a return to all-out war after a shaky ceasefire took effect in June.

The White House vows to charge all commercial ships passing through the Strait of Hormuz.