US President Trump pleased to announce that Pastor Darrell Scott will be serving my Administration and me as an Advisor for tobacco health issues on the ACD in the CDC; to focus on tobacco health issues and harm reduction

Personnel announcements of this kind sit at the soft end of policy signalling: advisory committee appointments carry no rulemaking power in themselves, but they have historically been read as a tell on the administration's posture toward the regulated industry in question.

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[MARKET UPDATE]: Oil gains, while indices, Treasuries, and spot gold sell off after reports of an American attack in Iran

Deputy Governor of Hormozgan says no casualties or incidents have been reported in Hormozgan so far, Nour News reports

US President Trump pleased to announce that Pastor Darrell Scott will be serving my Administration and me as an Advisor for tobacco health issues on the ACD in the CDC; to focus on tobacco health issues and harm reduction

Sound of explosions has been heard in Chabahar and Bandar Abbas, reports Iran International citing local reports

Initial reports of an American attack on Iran, reports i24's Stein

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Context

Here the signal is the explicit harm reduction framing, which in past cycles has been associated with a more permissive stance toward reduced-risk nicotine products, vaping and oral formats, relative to combustible-focused regulation. The relevant transmission for the tobacco complex is not the appointment itself but whether it presages movement at the agencies that actually hold the levers, namely product authorization decisions, flavour restrictions and nicotine standard proposals. Pastor Scott has been a long-standing political ally rather than a public health figure, which markets have tended to interpret as loyalty placement rather than technocratic direction-setting. Worth noting is the distinction between advisory bodies and the rulemaking chain: advisory committee composition shifts slowly into policy, if at all, and comparable appointments have more often moved headline sentiment in the tobacco and vape names than the underlying regulatory timeline. Follow-ons are any parallel nominations at the agencies with statutory authority and the first committee outputs.

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