President Donald Trump’s recent public statements have emerged as the primary driver of trader sentiment on whether he will restart Project Freedom, the short-lived U.S. naval escort operation launched May 4, 2026, to guide commercial vessels through the Strait of Hormuz. After pausing the mission within 36 hours amid Saudi and Kuwaiti restrictions on base access and progress in Pakistan-mediated talks with Iran, Trump indicated on May 10 that any resumption would likely expand into “Project Freedom Plus” if negotiations stall. Pentagon assessments note that allied permissions have since reopened, positioning the operation for potential revival within days, while ongoing diplomatic efforts and Iranian compliance remain key variables that could either sustain the pause or trigger renewed U.S. action before summer.