China has vowed to hit back after President Donald Trump announced major new tariffs on its exports to the United States as part of his radical overhaul of a century of American global trade policy.

Trump unveiled 54% tariffs on all Chinese imports into the US Wednesday, in a move poised to push a major reset of relations and escalate a trade war between the world’s two largest economies.

“China firmly opposes this and will resolutely take countermeasures to safeguard its own rights and interests,” China’s Ministry of Commerce said in a statement Thursday morning.

The ministry slammed the move that stands as a centerpiece in Trump’s effort to reshape the rules of international trade as “typical unilateral bullying practice,” while urging the US to cancel the tariffs and “properly resolve differences with its trading partners through equal dialogue.”

“The United States has drawn the so-called ‘reciprocal tariffs’ based on subjective and unilateral assessments, which is inconsistent with international trade rules and seriously damages the legitimate rights and interests of relevant parties,” the statement said.

Trump’s announcement Wednesday adds 34% so-called “reciprocal” tariffs to existing 20% duties on all Chinese imports to the US. Since returning to power in January, Trump had already levied two tranches of 10% additional levies on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US.

Trump unveiled the measures during an address in the White House’s Rose Garden, where he separately announced an additional 10% duties on all imports to the US and a host of country-specific measures that hit Asian countries particularly hard.

To skirt existing tariffs, some Chinese companies have shifted production to other Asian countries. But Trump’s new tariffs on other Asian nations announced Wednesday will hurt China, too: Vietnam will face levies of 46% and Cambodian goods will be tariffed at 49%.

“I have great respect for President Xi (Jinping) of China, great respect for China, but they were taking tremendous advantage of us,” Trump said during his roughly hour-long address Wednesday. “They understand exactly what’s happening and … they’re going to fight.”

Beijing responded swiftly – but moderately – to the previous rounds of tariffs imposed by the Trump administration this year. That retaliation included 10% or 15% duties on certain kinds of fuel, as well as agricultural goods like soybeans, wheat and chicken.

It’s also sharpened a toolbox of measures to control exports, including of critical minerals, and target companies and sectors that it can use to exert pressure on American firms and interests.