China’s Commerce Department urged the United States to “immediately cancel” its unilateral tariff measures and vowed to take “firm opposition” to protect its own rights and interests, after U.S. President Donald Trump announced what analysts described as those described by analysts. The steepest tariff hike A century.

“The so-called ‘mutual tariff’ based on subjective and unilateral assessments violates international trade rules and seriously undermines the legitimate rights and interests of the parties involved,” a spokesperson for the Commerce Department. In a statement saidtranslated by CNBC.

The Chinese official called the Trump administration’s decision to impose reciprocity tariffs “typical unilateral bullying”, adding that many countries expressed “strong dissatisfaction and obvious opposition.”

The statement was announced by Trump Baseline tariffs are 10% for all countries and Many countries have higher priceswhich includes 34% of China, 20% of the EU, 46% of Vietnam and 32% of Taiwan.

The tariff rate will complement the 20% tariff on U.S. imports from China, increasing the effective total to 54%, effective April 9, closer to Trump’s campaign pledge of 60%.

Tai Hui, chief market strategist at Apac at JP Morgan Asset Management, said initial estimates suggest that comprehensive measures taken could raise the average U.S. tariff rate to “not seen since the early 20th century.”

Robin Xing, chief Chinese economist at Morgan Stanley, said China’s tariff shock will be “higher and more common than in the trade war 1.0.”

While Beijing may quickly slow the country’s economic growth, Beijing may introduce additional policy support, such measures “only partially offset the tariff shock.”

According to estimates by Julian Evans-Pritchard, head of economics in China, China, China, China could suffer from economic attacks of 0.5 to 1 percentage point in its GDP.

Stephen Olson, a senior researcher at the Yusof Ishak Institute in Singapore, said Beijing could take strong but proportionate measures to respond, possibly exceeding the tariff increase.

“The United States and China are heading to a negotiating table and they will try to reach some kind of big bargaining on various issues,” he said.

South Korea’s acting president Han Duck-soo, Order emergency support measures For industries and businesses that will be affected, including the automotive industry, officials are ordered to engage in active negotiations with Washington to minimize the impact of additional taxation.

In addition, Australian Prime Minister Anthony Albanese

Japan’s trade ministry said it would set up a working group to study the impact of the new tariffs, which Trump said will 24% of Japanleave all options on the table to deal with important responsibilities.

“We need to determine what is most suitable for Japan in a cautious but bold and fast way,” Trade Minister Yoji Muto said At the press conference.

Previously announced 25% tariffs on imported cars came into effect on Thursday, and the Japanese auto industry is expected to be Among the hardest Because of its dependence on US demand

Thai Prime Minister Paetongtarn Shinawatra said the government will lead you to develop short-term measures to deal with the impact of manufacturers and exporters of the 36% new tariffs, while planning to negotiate with the United States

The EU says this is Prepare for further countermeasures If negotiations with the United States fail, President Ursula von der Leyen said in a live broadcast, adding that the EU is ready to support efforts to make the global trade system more equitable.

– Evelyn Cheng of CNBC contributed to this report.