Good morning from the Financial Times. Today is Monday, March 30th, and this is your FT News briefing.

America's president says the U.S. could take Iran's oil will tell you how all the uncertainty about what happens next in the war is weighing on global markets.

Plus, it's been a year since America's so-called Liberation Day.

In a special series this week, we're asking,

has U.S. President Donald Trump actually reshaped global trade?

I think he has tried to remake the world trading system with them. He has failed.

I'm Victoria Craig, and here's the news you need to start your day.

President Trump spoke to the F.T. late Sunday about the war in Iran. When asked about his

objectives, he said his, quote,

preference would be to take the oil, though he acknowledged he faces resistance at home. He compared

the possible move to Venezuela, where the U.S. plans to control the oil industry indefinitely.

A decision like that in Iran would involve seizing the country's oil export hub, Karg Island.

On that matter, the president said he has, quote, a lot of options and that taking it would mean being there, quote, for a while.

The president stressed that talks between the U.S. and Iran via what he called Pakistani emissaries were progressing well,

and set a ceasefire deal to reopen the

vital strait of Hormuz could be reached, quote, fairly quickly. He noted 13,000 targets have

been hit in Iran and 3,000 remain, but he did not elaborate on what or where those targets are.

The interview with the president comes as oil prices started the week trading near the highs

of the conflict so far.

A month of war in Iran has left investors with nowhere to hide. That is because global

safe haven bonds and by comparison, riskier stocks have suffered

their biggest combined sell-off since 2022, with no end in sight to the conflict, what's in

...