Nathan Hager

Ahead of that, both sides are lobbying new threats.

In a social media post today, the president said Iran's, quote, new regime president has asked for a ceasefire, but he won't consider it

until the Strait of Hormuz is open.

Iran's Revolutionary Guard Corps responded, according to state-run media, saying the Strait won't be open based on the, quote, absurd displays of the American president.

Wayne Sanders is a senior defense research analyst at Bloomberg Intelligence.

retired Colonel Wayne Sanders with Bloomberg Intelligence.

President Trump, meantime, is airing more frustration with NATO for not joining the fight.

He told the UK's Telegraph newspaper the idea of leaving the alliance is, quote, beyond reconsideration.

That would take an act of Congress.

Bloomberg's Jumana Bersetchi reports allies do appear to be preparing for the aftermath.

Bloomberg's Jumana Bersetchi in Dubai.

Reuters reports the president will use tonight's speech to criticize NATO.

It is set for 9 p.m.

Wall Street time.

Catch it live on Bloomberg Radio or watch on Bloomberg Television or the Bloomberg Business app.

There's more fallout from the war.

Bloomberg News has learned the Middle East's biggest aluminum producer, Emirates Global, has halted operations at a smelter outside Abu Dhabi that Iran hit over the weekend.

That has shares of the biggest U.S.

aluminum maker, Alcoa.

on the rise by six percent.