HONG KONG — China announced a 34% tariff on all U.S. imports on Friday, escalating trade tensions between the world’s two biggest economies.

The move came two days after President Donald Trump imposed the same tariff on all Chinese imports as part of what he called reciprocal tariffs on a long list of U.S. trade partners.

Combined with 20% in other tariffs Trump has imposed on Chinese goods since returning to office in January, the total U.S. tariff on some Chinese goods is at least 54%.

China’s tariff on U.S. goods takes effect next Thursday, officials said. The new U.S. tariff on Chinese goods takes effect on Wednesday.

This is a developing story, please check back later for further updates.