Wielding the "baton of tariffs" on the pretext of the fentanyl issue would only be counterproductive, Chinese Ambassador to the United States Xie Feng said on Friday.

Speaking at the Duke-UNC China Leadership Summit via video link, Xie said that two-way trade between China and the US last year exceeded $680 billion, and around 73,000 American companies are investing in China.

"The extensive common interests we share and the vast room for cooperation we enjoy are there for everyone to see. Any attempt to decouple and disrupt supply chains would cause a heavy blow, and any trade war or tariff war would inflict greater injury on oneself than others," said the envoy.

US President Trump announced on Thursday that his proposed 25 percent tariffs on Canadian and Mexican goods will take effect on March 4, while also hiking the additional tariff on China imports from 10 to 20 percent, citing the fentanyl issue.

In response, a spokesperson for the Ministry of Commerce said the move violates World Trade Organization rules and harms the multilateral trading system.

Xie noted that as early as in 2019, China became the first country in the world to officially schedule fentanyl-related substances as a whole class, and the progress in China-US counternarcotics cooperation in recent years has also been widely recognized.

He said the shared aspiration of our peoples for a better life is "unstoppable".

"The two sides need to bear in mind the mutually beneficial nature of our bilateral relationship, and get more big things done, to the benefit of both our countries and the world," the ambassador said.