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China and the United States imposed new tariff hikes on each other's goods Monday and Beijing accused Washington of bullying, giving no sign of compromise in an intensifying battle over technology that is weighing on global economic growth.

Tensions between Washington and Beijing continue to escalate, with Mr Trump threatening to impose further tariffs of £203 billion (US$267 billion) on Chinese products.

Beijing's retaliatory tariffs on $60 billion in American goods were set to go into effect soon after, the finance ministry announced last week.

American companies importing Chinese products will now have to pay a 10 percent levy for goods, which will rise to 25 percent by 2019.

China targeted 5,200 U.S. goods with five to 10 percent tariffs, including big ticket items such as liquefied natural gas, lumber and electronics, as well as peppermint oil, pig hides and condoms.

China published a white paper on Monday that attacked the "protectionist practices" and "trade bullyism practices of the USA administration", according to state-run Chinese news service Xinhua.

Economists warn that a protracted dispute will eventually stunt growth not just in the USA and China but across the broader global economy.

After accusing the U.S. of launching the "largest trade war in economic history", analysts worry Beijing could shift to threatened "qualitative" retaliatory measures, such as damaging United States firms in China or restricting the export of crucial items. "We are increasingly convinced that tariffs are not the means to the end, but the end".

"It has intimidated other countries through economic measures, such as imposing tariffs and attempted to impose its own interests on China through extreme pressure". Bloomberg reported that the white paper stated that trade negotiations "cannot be carried out under the threat of tariffs", suggesting talks between the two sides are unlikely.

"Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", the agency said in a report Friday.

In an interview with Fox News Sunday, Secretary of State Mike Pompeo promised the United States will be victorious in any trade war with China.

"We remain open to continuing discussions with China, but China must meaningfully engage on the unfair trading practices".

Beijing's latest tariffs include an additional 5 per cent duty on about 1,600 kinds of United States products including computers and textiles and an extra 10 per cent on more than 3,500 items including chemicals, meat, wheat, wine and liquefied natural gas. Beijing's vice premier Liu He was proposed to meet with the Trump administration in Washington to have mid-level trade talks.

"We're going to get an outcome which forces China to behave on fundamental principles of trade around the world, fairness, reciprocity".

Trump earlier this month accused China of targeting rural voters who support his presidency by hitting agricultural goods. Instead, it has warned of "qualitative" measures to retaliate.

Analysts said the news reflects the breakdown in the worldwide relationship.