Chinese ADRs gained in premarket trading, as investors bet the latest adjustment to US tariffs would ease pressure on Chinese exports after a Supreme Court ruling prompted a reshuffling of trade measures.

Direxion Daily FTSE China Bull 3X Shares rose 2%; Pony AI rose 3%; PDD Holdings, WeRide, and NIO rose 2%; Li Auto, Alibaba, and JD.com rose 1%.

The US Supreme Court on Friday affirmed a lower-court ruling invalidating US President Donald Trump’s country-by-country tariffs, coinciding with the White House’s confirmation that he will visit Beijing from March 31 to April 2. A day later, Trump said he would raise a 10 per cent blanket tariff to 15 per cent.

“China and Hong Kong are the biggest beneficiaries” of the court’s decision, said Goldman Sachs strategists and economists including Andrew Tilton in a research note.

Previously, Chinese goods faced a 10 per cent “reciprocal” tariff and a separate 10 per cent “fentanyl” tariff, resulting in a combined 20 per cent levy, they said. Under the revised framework, that would be replaced by a 15 per cent tariff under Section 122.

Goldman estimated that the effective US tariff on Chinese imports would fall by about 6.6 percentage points, as the earlier fentanyl levy applied broadly and would now be substituted with a tariff that exempted certain critical-goods sectors.