He also announced a government contribution of over $70million to support British households with rising oil costs.
Lara Bentley reports from London…
US President Trump's demand for countries to send warships to reopen the Strait of Hormuz amid Iranian attacks has drawn a muted response.
He warned that NATO faces a "very bad" future if its members fail to come to Washington's aid.
Kate fisher reports from Washington
IN: Donald Trump
OUT: SOC
DUR: 00:42
The future of NATO has been called into question by Donald Trump, if US allies fail to help reopen a key shipping lane in the Middle East.
Iran has effectively closed the Strait of Hormuz - a crucial route for global supplies of oil and gas.
The US President says "its only appropriate the beneficiaries of the Strait help to make sure nothing bad happens there."
But Dr John Strawson, a law professor specialising in the Middle East, says Donald Trump's exact plan isn't clear…
IN: "It's not just…"
OUT: "...planned military operation."
DUR: 0:36
China’s top economic official will meet with his US counterpart in France over the weekend, less than three weeks before US President Donald Trump's expected summit with Chinese leader Xi Jinping.
It comes as the United States announced new trade investigations into alleged overcapacity targeting China and other key partners, drawing criticism from Beijing. Laura Westbrook reports.India's foreign minister says diplomacy with Iran over the Strait of Hormuz is working as New Delhi scrambles to keep cooking gas flowing to more than a billion people.