Fox Business's Edward Lawrence says admin official told him that tariffs Trump imposed on Friday under Section 122 are currently at 10%, and will go to 15%, but requires separate presidential action which is being worked on now

Fox Business's Edward Lawrence says admin official told him that tariffs Trump imposed on Friday under Section 122 are currently at 10%, and will go to 15%, but requires separate presidential action which is being worked on now.

This development regarding tariffs indicates a potential escalation in trade tensions, particularly if the proposed increase to 15% is enacted. This could impact currencies and markets broadly as traders adjust their positions based on heightened uncertainty and potential retaliatory measures from affected countries. Keep an eye on how this evolves, especially in forex and commodity sectors where traders often hedge against such geopolitical risks.