Report: Trump Will Impose Tariffs Soon, Possibly Today [Updated]

We still don't know exactly when Trump will impose his next round of tariffs on imports from China, but sources who spoke to Reuters say it will happen very soon and possibly even later today.

Whether he imposes them today or sometime later this week, their source says Trump will impose a blanket tariff on imports with few if any exceptions based on public comments as we expected

WASHINGTON (Reuters) - U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters on Saturday. [...]

The upcoming tariffs will be on a list of items that included $200 billion worth of internet technology products and other electronics, printed circuit boards and consumer goods including Chinese seafood, furniture and lighting products, tires, chemicals, plastics, bicycles and car seats for babies. It was unclear if the administration will exempt any of the products that were on the list, which was announced in July.

Sources who spoke to Reuters also say Trump may impose a 10 percent tariff, rather than 25 percent, because the White House believes retailers will not pass the 10 percent cost down to consumers.

I think they're dead wrong about that. There may be some cases where the costs are absorbed, but they will be few and it likely won't last. Businesses whose profit margins are already very slim will probably be the least able to absorb the impact.

On the other hand, if we assume the White House is correct and a 10 percent tariff will not have a material impact on business as they say, why even bother? What is this suppose to accomplish?

Whatever effects Trump's tariffs will have, that does not include the effect of China's retaliatory measures.

Update...

Of course he's waiting for the market to close.