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Trump May End War Without Hormuz

President Donald Trump told aides he is willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed, the Wall Street Journal reported March 30, citing administration officials — a potential pivot in war aims that rattled financial markets Tuesday.

Trump and his team concluded that an operation to immediately reopen the strait would push the conflict beyond his preferred four-to-six-week timeline. The administration instead plans to achieve its core objectives — crippling Iran’s navy and missile capabilities — wind down active hostilities, and then pressure Tehran diplomatically to restore free navigation through the waterway.

You can read more on the matter here.

What’s going on?

• Defense in Charlie Kirk Case Says ATF Could Not Match Fatal Bullet to Suspect’s Rifle (theDeepDive)

• Pierre Poilievre’s byelection cost taxpayers more than $2.3 million (CTV)

• Strait of Hormuz Crisis Deepens as Trump Plans Military Exit (theDeepDive)

• Canadian GDP up 0.1% in January, most likely up 0.2% in February (Reuters)

• Kash’s Cache: What’s Inside The FBI Director’s Leaked Documents (theDeepDive)

• Stephen Lewis, humanitarian and former Ontario NDP leader, dies at 88 (Globe)

• Thieves Steal 12 Tonnes of KitKat Bars in European Truck Heist (theDeepDive)

• Trump tells allies to ‘go get your own oil’ as frustration over Hormuz closure mounts (FT)

• World Uncertainty Index Hits All-Time High, Surpassing COVID-19 and 2008 Financial Crisis (theDeepDive)

What’s the latest?

• AI Age: Oracle is cutting thousands of jobs as its stock falls ~26% YTD, amid investor concerns over heavy AI infrastructure spending and rising debt. The company, with ~162,000 employees (2025), has committed to massive expansion including plans to raise $50B in financing, despite strong demand reflected in $455B–$553B in remaining performance obligations. Potential cuts of 20,000–30,000 roles could boost free cash flow by $8B–$10B.

• Economy: Canada’s GDP rose 0.1% in January and an estimated 0.2% in February, rebounding from a late-2025 contraction. Growth was driven by a 1.2% increase in mining, quarrying, and oil and gas extraction, while manufacturing fell 1.4% and services were flat. The data suggests modest early-2026 growth, reducing pressure for rate cuts as the Bank of Canada monitors inflation risks from rising oil prices

• Markets: Canada’s TSX rose 494 points to 32,429, led by gains in base metals and tech, while U.S. markets also climbed (Dow +488, S&P 500 +90, Nasdaq +390). Oil remained elevated above US$100 ($103.90), supporting energy-driven momentum, while gold rose to $4,650.70. The Canadian dollar weakened slightly to 71.63 cents US.

• Canada Post: Canada Post is moving forward with a federally mandated restructuring after being deemed “effectively insolvent,” with losses in the billions since 2018. The plan includes ending door-to-door delivery in favor of community mailboxes and updating service standards to improve financial sustainability. The Canadian Union of Postal Workers opposes the changes, warning of job losses and impacts on rural communities, as negotiations remain unresolved.

• Auto Sector: Canada’s auto sector is shifting away from U.S. reliance, with 82% of manufacturers and suppliers changing supply chain strategies amid trade tensions. Companies are diversifying into new markets and products, including defence-related manufacturing, while Canada leverages 15 trade agreements covering 51 countries. The country remains strong in EV supply chains (ranked 2nd globally), with new battery capacity like Volkswagen’s Ontario plant expected by 2027.

US GoldMining PEA

The stock market and stuff

• Unilever Answers Speculations On McCormick Acquisition: “In Advanced Discussions” (theDeepDive)

• Dollar’s Share of Global Reserves Falls to 31-Year Low as Central Banks Diversify (theDeepDive)

• Nvidia invests $2bn in chipmaker Marvell to boost AI networking (FT)

• Seabridge Boosts KSM Resource Estimate Following Updated Metals Pricing (theDeepDive)

In the juniors

• Blackrock Silver Outlines US$1.6 Billion NPV For Tonopah West Under Refreshed PEA (theDeepDive)

• Aya Gold & Silver Flips To Positive Net Income In 2025 As Zgrounder Ramps Up (theDeepDive)

• American Eagle Plans 50,000 Metre Drill Program as Strategic Backers Dig In (theDeepDive)

FULL DISCLOSURE: Canadian Copper is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Canadian Copper. The author has been compensated to cover Canadian Copper on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.