US and Iran struggle for power over Strait of Hormuz

Who controls the Strait of Hormuz? Escalation continues between the US and Iran with attacks launched on both sides. President Donald Trump says the US will be the "guardians" of the strait and charge tolls. Iran says the US has no role in how the strait is run. Gregg Carlstrom, Middle East correspondent for the Economist takes us through the latest. Behrouz Bakhtiari, assistant professor of operations management at the DeGroote School of Business at McMaster University, explains the impact on supply chains, and the potential price increases on energy and goods.