Treasury is being said to be proposing 25% tariffs (current proposal is 10%

Unnamed sources saying the announcement may come within days

The moves against trade will be a 'risk' negative. AUD/JPY should get the wobbles

Here we go, more detai via Bloomberg:

  • The Trump administration will propose raising to 25 percent its planned 10 percent tariffs on $200 billion in Chinese imports, a move that would ratchet up pressure on Beijing to return to the negotiating table, three people familiar with the internal deliberations said.
  • The U.S. imposed 25 percent tariffs on $34 billion of Chinese products in early July, and the review period on another $16 billion of imports ends Wednesday.