U.S. resumes airstrikes on Iran

The U.S. launches more airstrikes on Iran while also reimposing a blockade on Iranian ports. At the same time, he's also backing off his plan to charge fees for using the Strait of Hormuz. Fox's Mike Tobin has all the latest developments from Tel Aviv. We'd love to do it a different way. We'd love to invest in the United States. It's no longer a toll, it's an investment. That's a word from President Trump. He's backing off his plan to charge a 20% fee to ships transiting the Strait of Hormuz just a day after proposing it. The new plan, Gulf countries would make sizable investments in the U.S. in exchange for free use of the Strait and American protection. This way, there's no fee. I don't like the concept of a fee. But at the same time, it's not fair that we're protecting this Strait for the entire world. The president also says the new blockade, which goes into effect Wednesday morning, only applies to ships coming to or from Iranian ports. Iran has been very much destabilized. And really, their military power is just a tiny fraction of what it was just four months ago. The change came as the U.S. escalated airstrikes on Iran early Tuesday. Iran responded with missile and drone attacks on America's Mideast allies and issued a new warning, claiming they now consider military cooperation with the U.S. an act of war against Iran. Should the war spread across the region, the flames of war will engulf every country in the region. The focus of the conflict is now clearly on the Strait, and experts warn if a diplomatic solution cannot be found quickly, this could intensify once again into an all-out war. This is who they are, and we're going to deal with them appropriately now. That's the path I think we're on. Iran is still firing on civilian tankers in the Strait on Wednesday, one sailor was killed aboard an Emirati ship. In Tel Aviv, Mike Tobin, Fox 9. That's some very good news for consumers. Inflation cools for the first time in months. Inflation in June was 3.5 percent. That's down from 4.2 percent in May, and lower than many economists had expected. Consumer prices also dropped 0.4 percent from May to June, the largest monthly drop in four years. Core prices, which include the volatile food and energy categories, were unchanged.