China said Thursday it would take all “necessary measures” to protect its legitimate interests after it was hit particularly hard by President Donald Trump’s sweeping tariffs on U.S. trading partners around the world.

President Donald Trump’s rollout of reciprocal tariffs on April 2 has sent international stocks lower, with exchange-traded funds targeting equities in China, Vietnam and Europe under selling pressure.

Beijing expressed anger and warned of countermeasures, while European leaders said the levies could have a major impact on the world’s economy.

President Donald Trump's move to impose sweeping tariffs on U.S. imports sparked threats of retaliation on Thursday, as companies and governments rushed to count the costs from an escalating trade war that threatens to shake up global alliances.

President Donald Trump imposed 54% tariffs on all Chinese imports into the United States Wednesday as part of his sweeping “Liberation Day” reset of American trade global policy.

Chinese outdoor furniture maker Jin Chaofeng set up a factory in Vietnam last July to escape higher U.S. tariffs. Now he is looking to close it, as Washington imposes steep levies on Hanoi and the rest of the world.

China’s military held long-range live-fire drills in the East China Sea in an escalation of ongoing drills around Taiwan. China said the exercises around Taiwan were to "serve as a stern warning and powerful deterrent against Taiwanese independence.

The People's Liberation Army said Wednesday it had carried out live-fire strikes on targets simulating Taiwanese infrastructure.

China launched massive surprise military drills around Taiwan days after the US defense secretary on a trip to Asia pledged to counter Chinese “aggression.” Beijing said its army, navy, and air forces surrounding Taiwan was a “stern warning” to the self-ruling island’s leaders — which Chinese state media called “parasites” who were seeking independence for Taiwan,