Chinese stocks were thrown into a tailspin on Friday after Beijing announced 34% tariffs on all imports from the US, a retaliatory move that risks bringing a halt to a nascent market recovery in China.

Futures contracts tracking the FTSE China A50 Index fell about 3.5% in Singapore, after China said all imports from the US will be charged the extra levies starting April 10. The measure came after US President Donald Trump on Wednesday laid out reciprocal tariffs on global trade partners, including a 54% rate on Chinese goods.