Can you help identify this damage or disease on my tulip tree?

Post date: 2020-08-03 03:42:55

Please see the 2 photos of the trunk of a tulip tree in my yard. There's a 1 cm opening in the bark and it's weeping sap or some dark liquid. Should I be concerned or is there any tree first aid action I can take? I really do not want to lose this tree - it was planted 3 years ago to replace the loss of an awesome shade tree.