From the New York Times, it's the headlines. I'm Tracy Mumford. Today's Tuesday, May 5th. Here's what we're covering.

One day into President Trump's plan to get traffic moving through the Strait of Hormuz again.

The U.S. military says it's been shooting

down cruise missiles and drones fired at commercial ships by Iran, and it has launched strikes

of its own, sinking six Iranian speedboats. The new attacks have shaken the temporary

truce, and they've also added to the confusion and uncertainty for ships caught near

the waterway. While the U.S. is vowing to help tankers carrying everything from natural gas to

fertilizer get out, it's unclear if the shipping companies will take the risk. One trade analyst

told the times a key reason cargo ships aren't going through yet is insurance costs.

Even if a captain is willing to sail through the strait, the ship's owners, or the owners of its cargo,

could refuse. Shipping companies said Iran needs to be part of any plan to move a large number of

ships through the waterway. According to the International Maritime Organization,

around 1,600 vessels are currently trapped in the Gulf.

Before the war, about 130 ships a day used to cross the strait.

Yesterday, according to one financial intelligence firm,

four ships got through.

Meanwhile, China, let's see them step up with some diplomacy

and get the Iranians to open the strait. Treasury Secretary Scott Besant called on China

to try and help get the straight open. I would urge the Chinese to join us in supporting this

international operation. The country has continued to buy Iranian oil through the war, which has in part kept

Iran's economy afloat. But the U.S. has been applying pressure, warning China that it will

go after entities involved in those oil sales, like refineries and financial institutions.

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