Business News at a Glance

Trump’s Tariffs Prompt Global Threats of Retaliation

A day after President Donald Trump took a swing at U.S. trading partners by threatening stiff tariffs on steel and aluminum, they hit back. They promised to retaliate against quintessential U.S. goods like Kentucky bourbon, bluejeans and Harley-Davidson motorcycles. That is likely to turn into a wave of protest aimed at U.S. products as other countries, including traditional allies, respond to Trump’s plan to clamp down on imports of metals from overseas. Canada, China and the EU have already said they would respond with tariffs of their own that could lead to billions of dollars in U.S. export losses.

Trump Calls Trade Wars ‘Good’ and ‘Easy to Win’

A day after stunning markets, Republican lawmakers and even his own advisers by announcing stiff tariffs on steel and aluminum imports, President Donald Trump doubled down on his approach Friday, saying in a tweet that “Trade wars are good, and easy to win.” Trump appeared eager to defend his decision to levy tariffs on all imports of those metals, issuing tweets explaining the need for tariffs. “Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!” he said in one tweet. He wrote that the measures would help to reduce the trade deficit.

Wall Street, Rattled by Fears of Trade War, Has Rocky Open Before Gaining Ground

After slipping early, stocks gained ground Friday, as banks and tech firms cut losses and pulled broader indexes higher. The Standard & Poor’s 500 index closed up, after falling by more than 1 percent early in the day. The rocky open to the trading day followed broad declines in Europe and Asia, as fallout from President Donald Trump’s announcement on tariffs for steel and aluminum continued to rattle financial markets. On Friday, the Nikkei 225 in Japan fell 2.5 percent, and the Hang Seng Index in Hong Kong closed down 1.5 percent. Major indexes in Europe were also down broadly.

Anti-Gun Movement Is Infecting an Outdoor Brand’s Other Products

The national debate over gun control is sweeping up bike helmets and water bottles. REI and Mountain Equipment Co-op, two outdoor retail chains that are also customer cooperatives, said Thursday they were suspending orders for popular items like Bell bicycle helmets and CamelBak water bottles from the company that owns the brands, Vista Outdoor, because Vista also makes assault-style rifles. The move signals an escalation of the stances businesses have taken in the past week in the controversial gun debate since the school shooting in Parkland, Florida, last month that killed 17 students and staff members.

Wary of Political Baggage, Delta Rethinks Discounts

Delta Air Lines said Friday it might scrap promotional offers for all politically contentious organizations after its removal of a discount for National Rifle Association members drew a swift retaliation from Georgia lawmakers. Ed Bastian, Delta’s chief executive, said in a memo that the company was “in the process of a review to end group discounts for any group of a politically divisive nature.” On Thursday, the Georgia state Senate overwhelmingly approved a version of a tax-relief bill that stripped out a $50 million sales tax exemption highly sought by Delta. Gov. Nathan Deal, a Republican, signed the bill Friday.

Censoring Foreign Sites, China Exerts Digital Control Beyond Its Borders

Within its digital borders, China has long censored what its people read and say online. Now, it is increasingly going beyond its own online realms to police what people and companies are saying about it all over the world. To broaden its censorship efforts, Beijing is venturing outside the system of internet filters known as the Great Firewall and paying more attention to what its citizens are saying on non-Chinese apps and services. As part of that shift, Beijing has at times pressured foreign companies like Google and Facebook, which are both blocked in China, to take down certain content.

Four Directors Will Leave Wells Fargo’s Board

Wells Fargo said Friday that four board members will soon step down, fulfilling a pledge it made last month as the Federal Reserve penalized the bank for years of misconduct. The four departing directors are John S. Chen, executive chairman and chief executive of BlackBerry; Lloyd H. Dean, president and chief executive officer of Dignity Health; Enrique Hernandez Jr., chief executive of Inter-Con Security Systems; and Federico F. Peña, who served as both energy and transportation secretary under President Bill Clinton. The four directors will leave in April, when the company holds its annual shareholder meeting.