Beijing announced a new round of 50 percent tariffs in response to President Trump’s latest levies as the trade conflict between the superpowers escalates.

The country, a key destination for California's billions of dollars in exports, has imposed an 84% tariff on U.S. goods.

China's exports likely picked up pace in March, as factories rushed out shipments ahead of U.S. President Donald Trump's sweeping tariffs this month, though the broadening trade war with the United States has darkened the economic outlook.