Beijing threatens “necessary response” to new U.S. tariffs

Mar 08, 2018, 6:15 AM EST
U.S. President Donald Trump has rallied against America's trade deficit.
(Source: The White House/flickr)

Fears of a “harmful” trade war between Washington and Beijing deepened as China’s Foreign Minister, Wang Yi, threatened to take “appropriate and necessary response” to U.S. plan of imposing tariffs on metal imports.

Even as the U.S. softened its stance, indicating that a few countries could be exempted from new tariffs based on national security grounds, the announcement did little to pacify an angered European Union, which mulls retaliatory measures against American goods, reports the BBC.

Several congressional Republicans and businesses are at odds with Trump over the proposed tariffs, which could be a source of potential volatility in the markets over coming months, notes The Guardian.