Trump considering significant tariff relief for US auto production

Reports Iran has proposed allowing ships safe passage via the Omani side of Hormuz as part of US talks, signalling potential easing of disruptions, though flows remain far below pre-war levels.

Fox says its confirmed reports say Iran used a Chinese satellite to monitor US bases, boosting targeting capability and raising geopolitical tensions, with implications for US-China relations and the evolving nature of the conflict.

Japan’s Katayama said authorities are closely watching FX and in dialogue with the US, warning oil-driven volatility is impacting the yen and economy, keeping intervention risk in focus.

China industrial output beat forecasts in March, but retail sales missed and property investment stayed weak, highlighting a fragile recovery as the Iran war adds to growth risks.

China Q1 GDP rose 5.0% y/y (exp 4.8%), beating forecasts, but officials warned the external outlook is becoming more complex as the Iran war-driven oil shock raises risks for growth.

Australia employment rose 17.9k in March (exp 20k) with unemployment steady at 4.3%, underscoring labour market resilience and giving the RBA room to keep tightening as inflation risks remain elevated.

Australian March 2026 unemployment rate 4.3% (expected 4.3%, prior 4.3%)