New tariffs could cut the country's steel exports by as much as one-fifth in the coming months, S&P Global predicts.

U.S. President Donald Trump threw a curve ball at China by linking the fentanyl issue to his tariffs on imports.

China said on Wednesday that the U.S. has undermined bilateral counter-narcotics cooperation by imposing tariffs on Chinese goods over fentanyl, calling on Washington to stop using the issue as a bargaining chip to "blackmail" the country.

China is willing to do more to address U.S. concerns about illicit fentanyl trade, an official from the Ministry of Foreign Affairs told reporters Wednesday.