China has set an ambitious target for “around 5%” growth in 2025, maintaining last year’s goal even as it braces for the fallout from escalating American tariffs on its export-driven economy.

The U.S. dollar drooped near a three-month low versus major peers on Wednesday while shares in Asia were mixed after the latest round of U.S. tariffs and countermeasures from Canada and China stoked fears of an escalating trade war.

Beijing imposed broad tariffs on imports of American food and said 15 U.S. companies could no longer buy from China without special permission.