LOOK AHEAD: US Macro: PPI (Wed) and CPI (Thu) Inflation

Here is the Google translate of the Kyodo report (link)

• "(Kyodo News, Washington) A White House official said on the 6th that the US will impose an additional 15% tariff on Japan as part of new "reciprocal tariffs " that will come into effect in the early hours of the 7th (afternoon of the 7th Japan time). This will be a different tariff rate from what Japan explained in the agreement."
• The latter part of the paragraph appears to be causing the confusion here. It may be referring to the fact that Japan's understanding in the "deal" that items which had a tariff rate greater than 15% before the "deal" would just maintain their existing tariff rates, with items under 15% now being tariffed at 15%. But Trump's Executive Order imposing the tariffs doesn't make that clear and implies that all of the above would see 15% tariffs added to existing tariffs.

It seems the Kyodo report referred to earlier by Bloomberg ("US TO IMPOSE ADDITIONAL 15% TARIFF ON JAPAN IMPORTS: KYODO") is not referring to an additional "new" tariff, but merely a White House confirmation of the previously announced "deal" under which the reciprocal tariff rate on Japanese goods due to take effect Thursday would be 15%. Though it's still somewhat unclear - and while USDJPY has started to come back, it has maintained most of its 0.2% rise in the dollar's favor on the back of the original headlines. 

• This is the entire Bloomberg article: "The US plans to impose an additional 15% tariff on Japan, regardless of existing tariff rates, as part of reciprocal tariffs set to be imposed on various countries and regions, Kyodo News reports, citing an unidentified White House official.  The 15% tariff will come on top of existing tariffs, the Kyodo report says"

Bloomberg citing Kyodo:

• "US TO IMPOSE ADDITIONAL 15% TARIFF ON JAPAN IMPORTS: KYODO"
• "US TARIFF ON JAPAN TO COME ON TOP OF EXISTING TARIFFS: KYODO"
• "KYODO CITES WHITE HOUSE OFFICIAL ON TARIFFS"