Highlights:

• Japan seeks exemption from planned US tariff increase from 10% to 15%, citing concerns about impact on the automobile industry. Bloomberg Economics

• Asia faces fuel crunch with queues, price hikes, and shortages affecting import-dependent energy buyers across the region. Bloomberg Economics

• Retired General David Petraeus says Trump's stated Iran objectives are "very achievable" through airstrikes degrading Tehran's air defenses and capabilities. Bloomberg Politics

• Rep. Wasserman Schultz expresses concern about munitions depletion and supports emergency supplemental funding for ongoing Mideast conflict. Bloomberg Politics

• Treasury Secretary Bessent criticizes JPMorgan Chase report as "terrible" analysis regarding US government oil-cargo insurance constraints in the Persian Gulf. Bloomberg Politics

• President Trump vows to issue executive order within one week addressing college sports concerns including athlete salaries, transfers, and gambling impacts. Bloomberg Politics

• FDA vaccine chief Vinay Prasad set to leave post next month after tumultuous tenure; biotech shares rise on news. Bloomberg Politics