Trump resurrects tariff threats, causing stocks to wobble before July 9 deadline.

Market participants were expecting an upbeat start to the week with hopes of trade deals being announced before the July 9 deadline. However, President Trump announced the US will start issuing tariff letters to countries as early as Monday. Asian stocks dropped 0.6%, US Treasury prices rose, and the dollar strengthened after Trump’s announcement. OPEC+ agreed to increase production by 548,000 bpd in August. European markets were mixed on Monday amidst uncertainty surrounding Trump’s tariff deadline. The economic calendar is quieter this week, with a focus on trade deal developments and the August 1 tariff implementation date. The DAX Index is hovering near key support levels, awaiting news on trade deals.

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