Global shares are mostly down as Trump’s tariff deadline looms and
pressure steps up
[July 07, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — Global shares mostly fell Monday as the Trump
administration stepped up pressure on trading partners to quickly make
new deals before a Wednesday tariff deadline, with plans for the United
States to start sending letters warning countries that higher tariffs
could kick in Aug. 1. In early European trading, Britain's FTSE 100 was
down 0.2% to 8,809.23 while Germany’s DAX added 0.3% to 23,854.32. In
Paris, the CAC 40 edged down 0.1% to 7,688.34.
Japan’s Nikkei 225 shed 0.6% to 39,587. 68 while Hong Kong’s Hang Seng
index edged down 0.1% to 23,887.83.
South Korea’s KOSPI index rose 0.2% to 3,059.47 while the Shanghai
Composite Index edged 0.1% higher to 3,473.13. Australia's S&P ASX 200
fell 0.2% to 8,589.30.
Oil prices also fell after OPEC+ agreed on Saturday to raise production
in August by 548,000 barrels per day, accelerating output increases
since oil prices jumped, then retreated, in the aftermath of Israel and
U.S. attacks on Iran.
U.S. benchmark crude was down 71 cents to $66.29 per barrel. Brent
crude, the international standard, shed 41 cents to $68.39 per barrel.
U.S. shares were set to drift lower with S&P 500 futures declining 0.4%
to 6,295.50 and Dow futures down 0.2% at 45,012.
“We expect markets to be volatile into the 9-July deadline when the
90-day pause on President Trump’s reciprocal tariffs expires for
non-China trading partners,” the Nomura Group wrote in a commentary.
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A currency trader watches monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI) at the foreign exchange dealing
room of the KEB Hana Bank headquarters in Seoul, South Korea,
Monday, July 7, 2025. (AP Photo/Ahn Young-joon)
 It said the near-term outlook will
likely hinge on several key factors like the extent to which trading
partners are included in Trump letters, the rate of tariffs, and the
effective date of such tariffs. A more distant implementation date
might leave scope for some last-minute trade negotiations and
maintain market optimism for potential resolutions or extensions, it
added.
“With the July 9 tariff deadline fast approaching, all eyes are
trained on Washington, scanning for signs of escalation or retreat.
The path forward isn’t clear, but the terrain is littered with
risk," Stephen Innes, managing partner at SPI Asset Management said
in a commentary.
On Thursday, a report showed the U.S. job market performed stronger
than Wall Street expected. The S&P 500 rose 0.8% and set an all-time
high for the fourth time in five days. The Dow Jones Industrial
Average added 344 points, or 0.8%, and the Nasdaq composite gained
1%.
In other dealings Monday, the U.S. dollar rose to 145.18 Japanese
yen from 144.44 yen. The euro edged lower to $1.1734 from $1.1779.
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