China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, the finance ministry said Wednesday.

China told the World Trade Organization on Wednesday that the United States' decision to impose what it has called reciprocal tariffs on Beijing threatens to further destabilize global trade.

"The situation has dangerously escalated. ... As one of the affected members, China expresses grave concern and firm opposition to this reckless move," China said in a statement to the WTO on Wednesday that was sent to Reuters by the Chinese mission to the WTO.

President Donald Trump's "reciprocal" tariffs on dozens of countries took effect Wednesday, including massive 104% duties on Chinese goods, as the European Union prepared retaliatory measures, escalating a global trade war.

China told a WTO meeting on trade in goods that the reciprocal tariffs violated the organization's rules and undermined the multilateral trading system.

"Reciprocal tariff is not – and will never be – a cure for trade imbalances. Instead, they will backfire, harming the U.S. itself," China's statement to the WTO said.