Report: White House won't go 'all the way' in terms of accounting for non-tariff barriers

A White House official cited by CNBC said the President may not take all of the non-tariff barriers into account when setting tariff rates. He specifically mentioned VAT taxes, which I take as a good sign. He also mentioned currency devaulation and wage suppression.

We saw reports like that on the weekend, though less detailed so I wouldn't expect a big market reaction to this. At this point, it might just be better to wait.

CNBC's Eamon Javers said he expects the 25% additional tariff due to Venezuelan oil to hit China, which would push their rate to 45%.