Governor Gavin Newsom (D-CA) took a swing at President Donald Trump and Vice President JD Vance on Monday, accusing them of sending mixed signals about the terms of the agreement with Iran. The California Democrat's press office fired off a pointed question on X: Did Trump lie when he said the Strait of Hormuz is now open, or is Vance lying by saying it's still up for negotiation?

The confusion started when Trump, speaking at the G7 summit in France, declared that the deal with Iran was "all signed" and that the terms would be released on Friday. But Vance, in an interview excerpt shared widely online, said the administration's "expectation" was that negotiations would lead to a long-term, toll-free reopening of the strait, while cautioning that there were "very important details to figure out."

Newsom's press office didn't mince words: "Did Trump lie last night when he said the strait is now open? Or is JD lying now, about it still being subject to negotiations?" The post went on to ask, "Why can't the American people get straight answers from our leadership in the middle of a war?"

To make matters murkier, Vance had earlier mentioned that Iran could gain access to a $300 billion reconstruction fund if it reached an agreement with Washington. He said the Gulf Coast Coalition (GCC) might provide the funds, contingent on Iran's compliance. Meanwhile, both Washington and Tehran have reiterated that a permanent peace agreement has not yet been reached.

Adding another layer, Iranian news agency Fars reported that the Memorandum signed by Washington and Tehran outlines a 60-day period of uninterrupted ship passage through the Strait of Hormuz. After that, Iran could potentially levy tolls. So, while Trump says the strait is open, the fine print suggests it's more of a temporary arrangement with possible future costs.

For retail investors, the lack of clarity around the Iran deal is a reminder that geopolitical risks remain high. Oil prices have been volatile, and any disruption to the Strait of Hormuz—a key chokepoint for global crude—could send energy stocks swinging. Keep an eye on developments this Friday, when Trump says the full terms will be released.