Trump labels Strait of Hormuz 'New U.S. Territory' as Iran threatens response

Robert, we just got a major dramatic new escalation involving the war in Iran. We were going to start with what's happening out at Penn State and the major drug bust that they just had out there. That was at the top of our agenda. But we just got this information from President Trump, where apparently he's posted something on his Truth Social page. And this is it right here. So what am I looking at here? What's going on? Well, 7.09 this morning, so less than three hours ago, the president posted a map of the Strait of Hormuz through which about 20 percent of the world's oil transits. And he declared it as he has foreshadowed that he would do a new U.S. territory. What's the legality of this? Can he do this? Does this hold up in any international court and in international law? He floated declaring Greenland a U.S. territory that hasn't gone anywhere so far. I don't remember him going as far as to post it on your Truth Social page. I mean, in some sense, when you see a commander in chief, I mean, I know the president has a unique style, to say the least, but when they post something like that, it is essentially what is being planned to be U.S. policy. And in this case, you know, that would really escalate whatever is happening or at this moment not happening when it comes to the war in Iran. Yeah, we know that yesterday we passed that all-important 60-day mark in the memorandum of understanding that the U.S. and Iran agreed to in June, giving them 60 days to reach a full agreement on Iran's denuclearization. That didn't happen. So that 60-day deadline came and went with no deal, and this certainly will not help things. Its deputy foreign minister has already declared that the Strait, quote, has been Iranian, is Iranian, and will remain Iranian. And President Trump spoke about this yesterday. OK. So he spoke about it yesterday. We're going to listen to that in just a second. Kurt, first of all, can we jump back up to our big board, if we can, Tyler, just for a second? Because a lot of times when these things happen, it definitely does impact the stock market one way or the other. OK. So we're getting a live ticker here. Dow Down is about 34 points, so really not a major impact. But certainly, this isn't going to help the oil prices on the day. Most likely, we're going to see those continue to spike up there as we look at some of those latest numbers as they come in. And we've seen gas prices up more than a dollar since the start of the war on February 28th, if memory serves. Gas was on average $2.98 a gallon back on February 28th. Now it's over $4 a gallon. So marked increase since the war started and the Strait effectively closed. All right. Just if we can, just one last time, Tyler, before we move off of this, let's let's just do two things here. Let's play President Trump yesterday where maybe foreshadowing what we got this morning. So let's take a listen to that, if we can, very quickly. Why do you think it's a great idea? Yeah. I mean, we control it. We control it with the blockade. We have a blockade. We control it with the blockade. And I like the idea of declaring it a territory. And then this morning we did get just that. If we can show the truth social post just one more time for anyone just joining us here on Newsroom Live. We are reacting to news as it is happening this morning. So President Trump posting this on his truth social page, essentially saying new U.S. territory, whether or not he can do that without taking extreme military action has yet to be seen. So Robert, thank you very much. I know this happened here at the last minute. So brought you right in on that discussion.