STRAIT OF HORMUZ — President Donald Trump announced Project Freedom, a presidential initiative to guide commercial vessels navigating the Strait of Hormuz, rebranding a coordination operation previously known as the Maritime Freedom Construct.

Trump posted on Truth Social that he would free ships and crews marooned in the Gulf by the Iran war as a humanitarian gesture. In a separate post, he wrote that U.S. and Iranian representatives were having very positive discussions. He also wrote online that Iran had not paid a big enough price for its past misdeeds.

Speaking at The Villages retirement community in Florida, Trump addressed the broader conflict with Iran. "You know we're in a war because I think you would agree we cannot let lunatics have a nuclear weapon. Do you agree?" Trump said.

The first report of a commercial vessel coming under fire from unknown projectiles occurred hours after the Truth Social announcement. On Monday afternoon, a South Korean-operated cargo vessel reported an explosion and fire aboard.

The U.S. has three aircraft carriers in the region and refueling tankers operating over the Middle East. One of the military options briefed to Trump was the forcible opening of the Strait of Hormuz by the U.S. Navy, using firepower if necessary.

The war was launched on Feb. 28 by Trump and Israeli Prime Minister Benjamin Netanyahu. Since the war began, one million Iranians have lost their jobs, and food inflation in Iran is running at over 100%.