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Global Markets Slip With Tariff Deadline in Focus

Global Markets Slip With Tariff Deadline in Focus

Stock markets began a crucial week on the back foot amid elevated uncertainty around President Donald Trump's tariff plans ahead of the July 9 deadline. Trump said he will start sending out letters telling countries what rates they will get on Monday and threatened a 10% additional levy on those aligning themselves with 'un-American' BRICS policies. Commerce Secretary Howard Lutnick on Sunday said 'tariffs go into effect Aug. 1, but the president is setting the rates, and the deals, right now.'
Oil benchmarks were modestly lower after OPEC+ agreed to an outsized output boost over the weekend. Looking ahead, the market will also be eyeing Federal Reserve minutes on Wednesday.
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