Anhui Strong State New Materials (SHE:001279) said the US tariff hikes will not have a direct impact on its export business, according to a Shenzhen Stock Exchange disclosure Wednesday.

The statement came after US President Donald Trump announced that tariffs on Chinese goods were hiked to 104%, with Beijing imposing an 84% tariff on US goods after.

The Chinese printing plates supplier said it has no direct business in the US and its focus is on other markets like Europe, East Asia, and Southeast Asia.

The company's shares jumped over 3% in recent trade.