06:20 AM EDT, 07/07/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Monday highlighted:

Markets: United States Treasuries remain rangebound. Asian stocks and e-minis are slightly weaker. EUR slips to $1.1765. Brent falls below $68/barrel.

Tariffs: U.S. President Donald Trump says he signed letters to around 12 countries involving "different amounts of money, different amounts of tariffs and somewhat different statements," which will be sent out and announced on Monday. He signals an extra 10% tariff on countries aligned with "anti-American policies of BRICS." Treasury Secretary Scott Bessent indicates a three-week extension to negotiate if some countries lack agreement by Wednesday. If there is no deal, tariffs will revert to April 2 levels effective from Aug. 1. Bessent says trade talks with the European Union are progressing, thinks the U.S. has the upper hand.

U.S.: Elon Musk launches new "America Party" to challenge what he describes as the country's "one-party system."

OPEC+ agrees to bigger output increase of 548,000 barrels a day in August.

== EUROPE:

ECB: European Central Bank Governing Council member Gabriel Makhlouf says US dollar dominance will decline over the long term, but for now, Europe lacks a single fiscal capacity and the euro isn't ready to replace the US dollar.

EU: Italy, France and Germany are preparing a letter to the European Commission with calls for concrete action to boost EU-wide investment and help the automotive sector (Repubblica).

Ratings: Scope completes monitoring review for Belgium without rating action and affirms Malta at A+/stable.

==ASIA:

Trade: China imposes reciprocal curbs on medical device procurement for EU-based companies. French finance minister says the EU must protect all its industrial segments by the wider use of measures against imports from China.