City of Lanzhou exhibition booth at 24th China Lanzhou Investment and Trade Fair, 6 July, 2018. (Photo credit should read "Jadranko Marjanovic/Lanzhou Investment and Trade Fair/AFP-Services") Companies from China and the United States are concerned about the impact of trade tensions between the world’s top two economies after the United States began imposing a 25-percent additional tariff on Chinese products worth 34 billion U.S. dollars Friday.

China’s customs authority announced that additional tariffs for some imports from the United States worth the same amount, including agricultural products, vehicles and aquatic products, also took effect on the same day.

Chinese manufacturers and U.S. businesses operating in China have expressed concerns that the United States launching of the largest trade war in economic history could impact the global trade order and inflict losses to U.S. consumers as well as industry and commerce firms on both sides.

“We are deeply concerned over the escalated trade tensions between the United States and China,” said Bruce Blakeman, vice president of corporate affairs in Asia Pacific at U.S. agribusiness company Cargill. The transnational company has many branches and plants across China.

There are no winners in a trade war and tariff measures will not solve the concerns of the U.S. government, according to companies.