Most European shares are expected to fall with futures in Germany's DAX .GDAXI FDXc1 and France's CAC .FCHI FCEc1 falling about 0.2 percent.
Chinese blue chips .CSI300 dipped 0.4 percent as the country's state planner warned of increasing risks to the economy in the second half of the year.
The improved trade outlook was also boosted by news that Washington was pressing the European Union to accelerate tariff talks.
European markets looked set to open higher after U.S. President Donald Trump and European Commission President Jean-Claude Juncker had agreed to work to lower industrial tariffs on both sides.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.2 percent.
Washington proposed the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, senior administration officials said on Tuesday.
European shares are expected to follow suit, with spread-betters expecting a fall of 0.2 percent in Germany’s DAX and 0.1 percent in Britain’s FTSE and France’s CAC.
MSCI ACWI, the benchmark compiler’s broadest gauge of world stocks covering 47 markets, fell 0.17 percent to its lowest level since early April.
Japan's Nikkei .N225 added 0.6 percent while futures for the S&P 500 ESc1 rose 0.3 percent as investors waited for new developments on global trade.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.7 percent. Japan's Nikkei .N225 rose 0.4 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.0 percent to a high last seen on May 17, while Japan’s Nikkei rose 1.3 percent.
European shares looked set to open flat to marginally higher on Wednesday and U.S. S&P futures ESc1 were little changed.
Crude oil prices held near 3-1/2-year highs on supply concerns, while the dollar edged higher, underpinned by a rise in U.S. bond yields.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.15 percent, as weaker Chinese stocks weighed on the market.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.3 percent, hitting their weakest in almost three weeks.
European shares are expected to be flat to lower, with futures for Germany's Dax FDXc1 .GDAXI, France's Cac FCEc1 .FCHI and Britain's FTSE all trading slightly lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.2 percent higher.
In the stock market, U.S. S&P 500 E-mini futures ESc1 rose 1.2 percent ESc1, while China's Shanghai Composite Index .SSEC gained 0.5 percent.
Asian stocks rose on Thursday after Wall Street brushed aside strong U.S. inflation data and surged.
Global share markets remained shaky on Thursday as U.S. bond yields crept up towards four-year highs.