Good Tuesday morning. Are we nearing President Trumps “pivot”on the war? Over the last 12 hours we’ve seen signs that point to that possibility. Last night the WSJ reported that Trump told aides he's willing to end the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed, likely extending Iran's control of the waterway and leaving a complex operation to reopen it for a later date. It was also reported that in recent days, Trump and his aides assessed that a mission to open the chokepoint would push the conflict beyond his timeline of four to six weeks (and almost certainly include the use of ground troops).

According to the report, Trump decided that the U.S. should achieve its main goals of hobbling Iran's navy and its missile stocks and wind down current hostilities while pressuring Tehran diplomatically to resume the free flow of trade.

Then, this morning Trump posted the following on Truth Social, telling our European allies “you’ll have to ...