U.S. President Donald Trump wants no taxes on people making less than $150,000 a year, Commerce Secretary Howard Lutnick told CBS News in an interview earlier this week. 

Tech stocks led advances in Asia on Thursday, taking their cue from Wall Street’s gains after tepid inflation data allayed concerns over the state of the U.S. economy.

Oil prices fell slightly in Asian trade on Thursday, cooling after a rebound from recent lows although sentiment remained strained amid concerns over a U.S. recession and high production. 

The dollar rebounded slightly on Thursday thanks to a rise in U.S. Treasury yields, though currencies traded in tight ranges as investors struggled to determine the impact of an escalating global trade war on U.S. inflation and growth.

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.

Bank of Japan Governor Kazuo Ueda on Wednesday took in stride recent rises in bond yields, saying they were a natural reflection of market expectations of future interest rate hikes by the central bank.