TWO TANKERS – ONE PRODUCTS CARRIER AND ONE SUPERTANKER – RETURNING TO IRAN FROM VOYAGES –SHIPPING DATA

President Donald Trump could impose Iran-related tariffs under the 1977 International Emergency Economic Powers Act, National Economic Council Director Kevin Hassett said, citing a “state of conflict.” The Supreme Court previously ruled the law does not authorize tariffs, including in its Feb. 20 decision striking down Trump’s global tariffs. Hassett argued the measure fits wartime conditions, though legal challenges are likely. The court majority rejected inherent presidential tariff authority in peacetime, while dissenting justices supported it, leaving uncertainty over whether such tariffs could withstand judicial scrutiny.

Chinese equities extended a broad-based rally, with CSI300 up 1.9% and ChiNext surging over 4%, while FTSE China A50 futures rose more than 2%. Gains were driven by improving macro sentiment as CPI/PPI data pointed to early reflation, alongside abundant liquidity conditions in money markets. Policy support also lifted battery and semiconductor sectors after Beijing signaled tighter control over excessive competition. Meanwhile, Hong Kong-listed tech and AI stocks outperformed on continued AI commercialization momentum, reinforcing sentiment across China-related growth assets.