Chinese stocks closed lower on Friday following announcements by U.S. President Donald Trump about planned tariffs on steel and aluminum imports.

The benchmark Shanghai Composite Index went down 0.59 percent to close at 3,254.53 points. The Shenzhen Component Index closed 0.79 percent lower at 10,856.25 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1 percent to close at 1,772.01 points Friday.

Combined turnover on the two bourses stood at 416.8 billion yuan (65.7 billion U.S. dollars), down from 432.5 billion yuan on the previous trading day.

Over 2,000 stocks lost on the two bourses with the steel sector leading the decline. The sub-index for the steel sector dropped 1.55 percent.

Xinyu Iron and Steel lost 6.43 percent to close at 7.28 yuan per share and Nanjing Iron and Steel declined 6.26 percent to close at 5.24 yuan.

U.S. President Donald Trump said in Washington on Thursday that he would impose tariffs on imports of steel and aluminum, in a move he said would protect U.S. industries but experts said it could hurt U.S. producers and face legal challenges from trade partners.

After a meeting with business executives, Trump said the United States is set to impose a 25 percent tariff on steel product imports and 10 percent on aluminum.

News of the tariffs immediately had an impact on Wall Street, with the Dow slumping over 500 points, more than 2 percent, in late trading.