Containers stacked at a port in Lianyungang in the northeastern Jiangsu province of China.

China on Tuesday condemned the U.S. announcement of tariffs on $50 billion worth of Chinese imports and said it would "take corresponding measures of equal scale and strength against U.S. products."

"The Chinese side strongly condemns and firmly opposes the unfounded Section 301 investigation and the proposed list of products and tariff increases based on the investigation," a Chinese embassy statement said.

"As the Chinese saying goes, it is only polite to reciprocate. The Chinese side will resort to the WTO dispute settlement mechanism and take corresponding measures of equal scale and strength against U.S. products in accordance with Chinese law."