There is no evidence yet that Trump has signed the order for additional China tariffs

It’s another day of wild headlines.

After the mainstream media ripped on twitter and the markets reporting that it was pushing fake headlines, it was Fox Business reporter Edward Lawrence who did it this time, saying that China tariffs went into effect at noon, rather than midnight as scheduled.

That was followed by a White House denial.

But that has been followed by a Bloomberg report saying that the tariffs will go into effect at noon. I’m not clear yet on the text of that report and whether it’s a promise or just re-iterating the schedule.

In any case, a 4% S&P 500 rally is suddenly just 0.5% and the Nasdaq is up even less.

What’s notable to me is there is no evidence yet that Trump has signed the necessary executive order to put additional 50% tariffs on China. Earlier today, he also appeared to plead for the US to call him.

He posted on Truth Social:

China also wants to make a deal,
badly, but they don’t know how to get it started. We are waiting for
their call. It will happen!

It looks like we will play the waiting game until midnight.

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