Trump believes he can deploy tariffs without tradeoffs or distortions. In reality, each new tariff move creates both.

Oil rose in the early Asian trade amid hopes that the U.S. and EU officials were likely converging on a possible trade deal.

The dollar edged higher against the euro on Thursday following progress in U.S. trade talks with key partners, but was mixed versus the yen, which got a lift from expectations for higher rates while political risks weigh.