US President Donald Trump has said that Iran took “too long to negotiate a deal” to end the hostilities between Washington and Tehran, warning that Iran “will have to pay the price".

“Iran’s military is a complete and total mess. Much of it, like their navy and air force, doesn’t even exist anymore; they have been completely defeated. Iran is all talk and no action,” Trump wrote on his Truth Social platform on Wednesday.

“The bully of the Middle East is dead! They’ve taken too long to negotiate a deal that would have been great for them; now they will have to pay the price!”

His remarks came after overnight exchanges between Iranian and US forces that came after several days of fluctuating tensions in the region, during which Israel and Iran traded military strikes before pulling back.

The US Central Command said US fighter jets struck Iranian air defence systems and radar sites near the Strait of Hormuz in response to the downing of the US Army Apache helicopter.

Iran’s Revolutionary Guard said that it launched retaliatory attacks on 21 American military targets at US air and naval bases across the region.

In a separate post, Trump stressed the effectiveness of the US naval blockade on Iran, calling it “the most successful blockade in the history of naval warfare".

“Nothing gets through unless we want it to. It is a steel wall! Iran is doing zero business, not paying their military or any of their bills, and quickly becoming a failed nation! Lots of oil is getting out. Praise be to Allah,” Trump said.

Trump told Fox News that the US is getting close to ordering new strikes against Iranian power plants and bridges in response to “tapping the United States along” when it comes to drawn-out negotiations.

Trump also said that an Iranian drone became lodged between the downed attack helicopter's two pilots as they manoeuvred to avoid an explosion.