The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump ramped up his threats ahead of a deadline he’s imposed for Iran to re-open the Strait of Hormuz or face further attacks on civilian infrastructure, while Tehran rejected a ceasefire proposal. “The entire country can be taken out in one night, and that night might be tomorrow night,” Trump said in a press conference Monday at the White House, in an apparent reference to his ultimatum to Iran that expires at 8 p.m. on Tuesday. “Every bridge in Iran will be decimated, by 12 o’clock tomorrow night,” Trump said. “Every power plant in Iran will be out of business, burning, exploding and never to be used again,” he added, noting that “it’ll happen over a period of four hours, if we wanted to. We don’t want that to happen.”Trump told reporters earlier on Monday that it was “highly unlikely” that he’d move the deadline again. Iran, meanwhile, reportedly passed to mediator Pakistan a rejection of a ceasefire proposal. The regime demanded a permanent end to the war, lifting of sanctions, and reconstruction efforts, in addition to protocol for safe passage through Hormuz, according to the state-run Islamic Republic News Agency. The rejection is the latest blow to efforts to end the month-long war that has triggered a global energy crisis. US allies are reportedly pressing for a last-minute deal with Iran, as Trump extended his deadline to Tuesday for Tehran to reopen the vital waterway. Trump during his press conference noted that free traffic of oil in Hormuz must be part of any deal to end the war. Today's show features: Dan Williams, Bloomberg News Middle East Reporter Alex Vatanka, Senior Fellow at the Middle East Institute Will Kubzansky, Bloomberg News Refined Products Reporter Drive to the Close with Nanette Abuhoff Jacobson, Global Investment Strategist at Hartford Funds See omnystudio.com/listener for privacy information.

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