The president-elect’s pledge to use tariffs to stem the flow of opioids from China could backfire if Beijing responds by ending counternarcotics cooperation.

The tariff threat is rattling China's industrial complex, which sells goods worth more than $400 billion annually to the US

The U.S. dollar steadied against major peers on Wednesday as investors continued to take stock of President-elect Donald Trump's tariff pledges, while keeping an eye on a key inflation figure out of the U.S. later in the day.