White House: U.S. Trade Rep. Greer to hold announcement on Section 122 tariffs

Summary

CNBC's Eamon Javers reports on breaking news from the White House briefing. Key items include an upcoming USTR announcement on Section 122 tariffs potentially targeting forced labor, uncertainty around the Saudi Arabia nuclear deal after President Trump seeks additional Israel recognition conditions, and Trump considering a massive attack on Iran.

• White House press secretary flagged an announcement from USTR Jamieson Greer on Section 122 tariffs later today.
• The announcement may involve tariffs on foreign governments/companies using forced labor, affecting up to 60 countries and 90% of US trade.
• Existing 10% blanket tariffs are set to expire tomorrow, Friday.
• Saudi Arabia nuclear deal signed yesterday but now portrayed as open process contingent on Saudi recognition of Israel.
• Trump tells Axios he is considering a massive attack on Iran, no timeline, while US has attacked Iran for 11 consecutive nights.
• No specific investable securities or sectors were mentioned by the reporter.