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Iran calls for ‘full-scale war’ but behind the scenes a peace proposal might reopen the Strait of Hormuz—if Trump can stomach it

July 21, 2026
in News
Iran calls for ‘full-scale war’ but behind the scenes a peace proposal might reopen the Strait of Hormuz—if Trump can stomach it

Good morning. On Fortune’s radar today:

  • EXCLUSIVE: Bill Ackman talks to Fortune about his war against socialism.
  • Markets: Ignore the bombs, look at the numbers.
  • Peace plan would give Iran control of the Strait of Hormuz.
  • Wall Street is skeptical about Trump’s new tariffs on Canada.
  • Anduril working with D-Wave Quantum on missile shields.
  • Incoming: El Niño supply shock.
  • Inside KitKat’s stolen chocolate caper. 

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The post Iran calls for ‘full-scale war’ but behind the scenes a peace proposal might reopen the Strait of Hormuz—if Trump can stomach it appeared first on Fortune.

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