Trump rejected Iran’s Hormuz peace plan and foresees bombardments resuming after the midterm elections—WSJ According to a Wall Street Journal report on Friday, citing unnamed U.S. officials, President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and halt regional hostilities within seven days. The report states that Trump told his aides that U.S. bombardments against Iran could resume after the November midterm elections. Iran, meanwhile, says it is still awaiting an official response from the U.S. Why markets care: Escalating military tensions could threaten energy flows through Hormuz, drive up oil prices, and fuel global inflation.
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