Trump warns of ‘Project Freedom Plus’ if Iran talks stall

US President Trump warned of initiating ‘Project Freedom Plus’ if current negotiations with Iran fail, suggesting a potential return to military operations in the Strait of Hormuz. Markets are anticipating a reduced probability of a US-Iran nuclear deal by June and a decreased likelihood of lifting the Hormuz blockade by May 31. This announcement indicates a heightened risk of escalation between the US and Iran.