China's commerce ministry: Will take necessary retaliatory measures if US decides to raise tariffs

According to Reuters, China's commerce ministry said that they will have to take necessary retaliatory measures if the United States were to raise tariffs on Chinese imports to 25% from 10%. 

The ministry further reiterated that the escalating trade frictions were not in the interest of either country or the world and said that they deeply regretted the U.S. decision to raise the tariff rate.