China to Retaliate If US Raises Tariffs

China's commerce ministry said on Wednesday it would take retaliatory measures if Washington went ahead with a plan to raise tariffs on Chinese imports on Friday.

Escalating trade frictions were not in the interests of either country or the world, the ministry said.

The United States will raise tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports effective Friday, according to a notice posted to the Federal Register on Wednesday.