White House confirms additional 10% on China for a 20% total

CNBC is helping to clarify that the additional 10% tariff on China today will be on top of the prior 10% tariff that went into place at the start of February. That will bring the total to 20%.

When he announced it this morning, there was some confusion on whether that was the 10% already announced (and implemented).

CNBC also reports that there are some negotiations over the Mexican tariffs ongoing today.

This report is hurting sentiment at the moment and US equities have almost given up all the gains.

This article was written by Adam Button at www.forexlive.com.