Trump still hasn't signed document for additional 50% tariffs on China - report

A short time ago, CNBC's Eamonn Javers reported -- citing the White House -- that Trump still hasn't signed an executive order that would put additional 50% tariffs on China at midnight, as he has threatened.

Earlier today, Trump appeared to beckon China to negotiate. If there as any doubt, White House press secretary Karoline Leavitt made it clear that he's sitting by the phone.

"I just spoke to the president about this and he believes that China wants to make a deal with the United States. He believes China has to make a deal with the United States. It was a mistake for China to retaliate. The president, when America is punched, he punches back harder. That's why there will be 104% tariffs going into effect on China tonight at midnight. But the president believes that Xi and China want to make a deal. They just don't know how to get that started. And the president also wanted me to tell all of you that if China reaches out to make a deal, he'll be incredibly gracious. But he's going to do what's best for the American people."

It will be daybreak in Beijing in a few hours so we might not have news until then but perhaps Xi has also sent a message by letting the yuan depreciate to an all-time low in a nearly 1% move today.

We will be waiting right until midnight (which is noon in Beijing) for a possible off-ramp but one thing to watch will be the on-shore yuan fix before that. If they let it fall, then I think that says everything you need to know.