Trade tensions have escalated between China and the United States. Beijing has imposed counter tariffs on some US products in response to what it calls the US trade bullying. This came after the newly imposed US tariffs on 34-billion-dollars worth of Chinese exports. The 25-percent US tariffs took effect at noon in Beijing, targeting a range of sectors including aerospace, IT, auto parts and medical instruments. For more on the beginning of what could be the largest trade war ever, let's go to our reporter Zou Yun in Beijing.

Zou Yun, tell us more about Beijing's reactions towards the US move.

The statement reads, "The United States has begun to impose 25-percent tariffs on 34 billion dollars of Chinese exports. The US has violated WTO regulations and launched the largest ever scale of trade war. It is a trade bully, which greatly hurts the global industry chain and value chain. It hammers the world economic recovery and triggers market disorder. It hurts domestic and foreign-invested companies as well as customers. The tariffs do not help, but harm the interests of American companies and its people.  China will not fire the first shot, but is determined to take countermeasures to protect its national interests and people. China will report to the WTO and protect the free multilateral trading system with other countries. China will continue to take solid steps on reform and opening-up, protect entrepreneurship and intellectual property rights, and provide a good environment for foreign-invested companies in China. We will continue evaluating the losses of affected companies and take helpful measures."