Iran, U.S. Trade Threats After Peace Talks Collapse

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• 00:02

  The U.S. Threatens to blockade the Strait of Hormuz, setting up a new showdown with Iran.

• 00:08

  Plus, oil surges, and economists warn of higher inflation and slowing U.S. Growth

• 00:13

  as hopes for a quick end to the war fade.

• 00:16

  And Trump ally Viktor Orban loses Hungary's election in a historic landslide.

• 00:21

  It's really been seen as a race between the choice of Europe on one hand and Russia on the other.

• 00:30

  It's Monday, April 13th.

• 00:31

  I'm Luke Vargas for The Wall Street Journal,

• 00:33

  and here is the AM edition of What 's News, the top headlines and business stories moving your world today.

• 00:42

  A U.S. Blockade of the Strait of Hormuz is due to take effect this morning at 10 a.m. Eastern.

• 00:48

  Donald Trump has said that all exports and all vessels coming out of Iranian ports for one week would be blocked.

• 00:56

  Iran cannot export crude oil, which it has continued to do.

• 00:59

  And that could involve as well deliveries of food.

• 01:03

  That's journal correspondent Benoit Foucan.

• 01:06

  The blockade comes after peace talks between the U.S.

• 01:09

  And Iran this weekend stalled.

• 01:11

  With Trump saying that he doesn't care whether Tehran returns for another round of negotiations.

• 01:15

  So basically, the talks between the U.S.

• 01:18

  And Iran to end the war effectively collapsed because of very different demands on both sides.

• 01:25

  The U.S. Wants a long-term abandonment and dismantling of the Iran nuclear enrichment facilities because they see it

• 01:33

  as a gateway towards building a nuclear weapon.

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