The hostilities come as both sides vie for control of the Strait of Hormuz, the shipping lane that, up until the war, operated as a free-trade route.

US President Donald Trump earlier backed down on his threat to tax ships passing through the Strait of Hormuz. Read more at straitstimes.com. Read more at straitstimes.com.

Any renewed attacks would follow strikes by both the U.S. and Iran following the downing of a U.S. helicopter.

As the U.S. restarts its Iran blockade and carries out more strikes, President Trump has called off a planned 20% fee on shipping through the Strait of Hormuz.

President Donald Trump dropped the idea of charging a 20% fee on all cargo shipped through the Strait of Hormuz, and said he would instead take trade and investment deals with the Gulf states.

The third consecutive night of US strikes on Iran came as Trump announced a 20% charge as part of a new blockade on the Strait of Hormuz.

Trump also appeared on a radio show to discuss the U.S.-Iran conflict, saying that the U.S. was preparing to attack Pickaxe Mountain nuclear site.

President Donald Trump is suggesting he has left standing orders for the U.S. military to destroy Iran “ at levels they've never seen before ” if Tehran follows through on its long-standing threats to kill him.

Fox News senior strategic analyst Gen. Jack Keane (ret.) joins 'Varney & Co.' to discuss President Donald Trump's renewed Iran strategy, the battle for the Strait of Hormuz and why the U.S. aims to dismantle Tehran's military capabilities.