Trump says US Navy will begin escorting ships out of the Strait of Hormuz

US President Trump announced that the US Navy will begin escorting ships through the Strait of Hormuz, citing an attack on a merchant ship off the coast of Iran. This move is seen as a preparation for military action against Iran's control of the strait and a response to the ongoing crisis. The announcement is expected to exacerbate global energy prices and disrupt supply chains.