LONDON, March 31 (Reuters) - German bonds rallied on

Monday, sending benchmark yields to their lowest in almost a

month, as investors flocked to the safety of government debt

ahead of U.S. President Donald Trump's April 2 tariff deadline.

Trump has said he will announce reciprocal tariffs on U.S.

trading partners on Wednesday, potentially overhauling the

global trading system. Global equities and stock futures fell

sharply on Monday and the Japanese yen

climbed as investors moved out of riskier assets into those

deemed to be safe havens.

Germany's 10-year bond yield, the benchmark for

the euro zone bloc, fell 7 basis points (bps) to 2.659% in early

trading, its lowest since March 5. Yields move inversely to

prices.

Germany's two-year bond yield, which is sensitive

to European Central Bank rate expectations, fell 5 bps to

1.982%, the lowest since mid-December.

Traders on Monday added to their bets on ECB rate cuts this

year, money market pricing showed. They now expect the ECB's

main rate to fall to 1.84% by year-end, down from 1.88% on

Friday.

Trump said on Sunday that reciprocal tariffs will include

all nations. He is also urging senior advisers to take a more

aggressive stance on tariffs, the Washington Post reported on

Saturday.

Separately, Trump over the weekend threatened secondary

tariffs on Russian oil over his frustrations about the speed of

talks on the Ukraine war.

Italy's 10-year yield, the benchmark for

so-called periphery countries, fell 4 bps to 3.804%. The closely

watched gap between Italian and German yields

widened slightly to 112 bps.