<h1>Global shares fall as tariff deadline approaches with warning letters planned for August 1</h1> Global shares declined Monday as the administration increased pressure on trading partners ahead of a Wednesday tariff deadline, with plans to send warning letters about potential higher tariffs effective August 1. European markets showed mixed results with Britain's FTSE down 0.2% while Germany's DAX gained 0.3%. Asian markets were similarly mixed, with Japan's Nikkei falling 0.6% and Hong Kong's Hang Seng down 0.1%, while South Korea's KOSPI and Shanghai Composite posted slight gains. Oil prices dropped after an organization agreed to increase production by 548,000 barrels daily in August. Analysts expect continued market volatility until the July 9 deadline when the 90-day pause on reciprocal tariffs expires for non-China trading partners.