Analysis: Serious challenge for China - as Japan, South Korea and Indonesia take big hits too
By Helen-Ann Smith, Asia correspondent in Beijing
China was expecting further tariffs and it will have been preparing, but no degree of preparation could effectively counter the immediate impact this latest round of tariffs will have on China's economy.
Once you add together tariffs levied earlier this year to those still in place from Trump's first term, all Chinese goods will now face import taxes of over 50%, some potentially as high as 70%.
Such levels realistically render trade with America all but impossible for the vast majority of businesses.
Given exports account for 20% of China's entire economy and trade with America makes up about 15%, the impact will be huge and wide reaching.
Experts are already predicting job losses could be in the millions, swathes of small businesses that populate China's complex supply chains could go under and there is a high chance China's growth target of around 5% will be missed.
For a country already grappling with a slowing economy and high unemployment it all amounts to a serious challenge.
There's a sense people have been particularly caught off guard by the targeting of other smaller Southeast Asian economies.
Reciprocal tariffs of 46% on Vietnam , 49% on Cambodia and 36% of Thailand are not only catastrophic for those lower income economies , but they also put a hard road block on an increasing trend of Chinese companies relocating to avoid tariffs - even work-arounds are now not an option.
The impact on Asia as a broader region was reflected in the markets, lower on opening and a significant slide in the futures trading, leading regional economies Japan, South Korea and Indonesia have also taken big hits.
There will almost certainly be frenetic negotiations under way behind the scenes, but China will absolutely need to be seen to respond, the ministry for commerce has already said as much in a statement.
The question is when and how far will it go. Authorities here can ill afford further escalation, but will not want to be seen to be bullied.