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The White House announced on Monday that President Donald Trump will address the country Thursday as tensions continue to rise with Iran.
Earlier on Monday, President Trump said that the U.S. will begin charging a fee for safe passage through the Strait of Hormuz beginning "immediately" Monday.
Trump wrote that the the U.S. is serving as the "Guardian of the Hormuz Strait" and deserves "fair" compensation for playing the role. He also announced the return of the U.S. blockade on Iranian ports.
"The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving. All other countries will have fair and open use of the Strait," Trump wrote.
"The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,' but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World. The process and formation will begin immediately," he added.