US-Iran Exchange Live Fire Across Hormuz; IRGC Hits Kuwait, Bahrain, Jordan

The United States and Iran are engaged in active military exchanges over control of the Strait of Hormuz. Iran's IRGC launched a new wave of retaliatory strikes against U.S. military facilities in Kuwait, Bahrain, and Jordan, following a reported five-hour U.S. attack on Iranian targets. Iran has fired missiles at Jordan and Bahrain. The IRGC declared the strait will remain closed until the U.S. ends what it calls 'acts of aggression.' President Trump simultaneously dropped his proposed 20% fee on cargo transiting Hormuz, replacing it with an investment arrangement involving Gulf states.