Cabot Phillips

So a long statement there, but certainly worth reading.

President Trump challenging the rest of the world.

Right.

Even before this war, there was a lot of friction over tariffs and the debate over America's season Greenland.

Now, in the early days of this war, much of Europe offered a more unified front, kind of tepidly supporting the U.S.

mission.

But

As the war is dragged on, the European economy has been hit particularly hard, and it seems clear they want this operation wrapped up.

This week, Spain, France, and Italy each denied the U.S.

permission to land aircraft in their countries.

For his part, President Trump responded saying, quote, the U.S.

will remember.

Essentially, he's saying, look, you all benefited from us decimating the Iranian military.

Now it's time for you to help open up the strait.

But the reality is, if this war ends and Iran maintains their blockade,

The Iranians could hold a large chunk of the global economy hostage, or they could slightly open it up and only allow ships to pass through if they pay heavy fees or taxes.

And that could keep prices high in the long term.

For more on that, I spoke with E.J.

Antoni, the chief economist at the Heritage Foundation.

Here's what he had to say about the global economic impact of the Strait being dominated by Iran.