SQUAWK BOX, MONDAY 13TH JULY, 2020

Risk-on appetite continues despite another record increase in global Coronavirus infections. U.S. case numbers alone rise to 3.3mn. The White House announces it will levy 25 per cent tariffs on French cosmetics and accessories if it fails to back down on its digital tax plan, but gives Paris 180 days to change its stance. In energy news, oil prices are under pressure on news that Opec+ could reverse their agreed record output cuts following an improvement in demand. And U.S. automaker Tesla decides to slash the cost of its recently released Model Y by $3,000 – this, despite the SUV earning the company its first profit in 17 years.