The UK and France are hosting a summit to discuss setting up a naval force that would ensure freedom of navigation in the Strait of Hormuz. The Maritime Freedom of Navigation Initiative would be "strictly defensive in nature," according to a UK statement, and it would be coupled with insurance industry support and back efforts to clear mines in the strait. The European initiative may not go far enough to satisfy Trump, who has mocked NATO over what he’s called a refusal to help the US confront Iran. Bloomberg's Oliver Crook reports.