The US took steps to impose levies on Chinese ships that dock at US ports, escalating the trade war between the world's two largest economies. On Thursday, President Trump struck an optimistic tone about negotiations with China,

U.S. President Donald Trump indicated late Thursday that his Chinese counterpart Xi Jinping has reached out about a trade deal, boosting hopes that the tensions between Washington and Beijing could cool.

Trump's comments further pointed to a diminished appetite for sharply higher across-the-board tariffs on dozens of countries after markets reacted violently to their introduction on April 2.