The administration said the new levies are a response to China's decision to retaliate against the first round of United States tariffs.
Beijing's Commerce Ministry called the new tariff list "totally unacceptable" and says China would impose countermeasures and file a lawsuit at the World Trade Organisation.
"In order to safeguard the core interests of the country and the fundamental interests of the people, the Chinese government will, as always, have to make the necessary counter-measures".
China accused the U.S. of starting "the largest trade war in economic history", after the first round of tariffs took effect last week.
The news sent stocks tumbling, with China's markets leading the declines. They criticize Trump's tactics but share US complaints about Beijing's industrial policies.
It also includes consumer goods ranging from vehicle tyres, furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.
"For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", US Trade Representative Robert Lighthizer said in announcing the proposed tariffs.
"The Chinese side is shocked by the actions of the USA", it said in a statement, according to a translation by Google.
"Tonight's announcement appears reckless and is not a targeted approach", said Senate Finance Chairman Orrin Hatch in a statement.
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The move makes good on the president's threat to respond to China's retaliation for the initial USA tariffs on $34 billion in Chinese goods, which went into effect on Friday and would eventually place almost half of all Chinese imports under tariffs.
The United States complains that China uses predatory practices in a push to challenge American technological dominance.
"China has no option but to fight fire with fire".
The 200-page document, released on Tuesday by the US Trade Representative's office, gives notice to those who wish to comment on the proposal and lists hundreds of products that would be subjected to the new tariffs.
Stock markets in Asia fell sharply during early trading on Wednesday amid the escalating trade tension between the two economic giants.
S&P 500 and Dow futures dropped around one per cent, pointing to a weak opening on Wall Street later on Wednesday.
US stocks fell on Wednesday, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.
The new round of tariffs targets more than 6000 trade lines including a wide range of low-end manufactured products from handbags, textiles, tires, leather goods, ski gloves to refrigerators to TVs.