President Trump launched Project Freedom in early May 2026 as a U.S. military effort to guide commercial vessels through the Strait of Hormuz following the Iranian blockade during the 2026 Iran conflict. The initiative was paused within days after Trump cited progress in bilateral negotiations toward a peace agreement and mutual requests from involved parties, while the broader naval blockade remained active. Recent statements from Defense Department officials indicate elements of the operation have continued in a lower-profile manner amid ongoing diplomatic talks. Trader assessments hinge on the pace of U.S.-Iran negotiations, any escalation signals in the region, and scheduled diplomatic milestones that could prompt a formal resumption or extension of the pause.