Beijing has sharply retaliated to the United States' trade war, announcing an increase in tariffs on American goods to a total of 84 percent, up from the previously stated 34 percent.
The Chinese Finance Ministry's Wednesday declaration is set to take effect on Thursday, April 10th.
In a parallel announcement, the China Commerce Ministry unveiled further countermeasures.
Twelve US entities have been added to China's export control list, restricting the export of dual-use goods to these companies.
Additionally, six US entities were placed on the "unreliable entity" list, which allows Beijing to take punitive actions against foreign entities, including firms linked to arms sales.
The Chinese countermeasures had an immediate impact on US financial markets.
US stock index futures experienced a sharp decline following the announcements, signaling a potential downturn in trading.
Economists warn if tariffs last a long time, they could cause a recession.
