MOC: China has to retaliate if U.S. implements new tariffs

China's Commerce Ministry (MOFCOM) said on Thursday that it will has to make necessary counter measures if the U.S. insists on implementing a new set of 25 percent tariffs on 200 billion USD worth of Chinese import. 

"The U.S. is seriously violating the WTO rules," Ministry spokesman Gao Feng said at a press conference. "It not only harms the interest of business and customers, but also jeopardizes the global industry chain." 

Gao said dialogue and consultation with "equality and honesty" are the right choices to resolve the China-U.S. trade friction, adding that China has the "confidence and ability" to maintain the country's stable economic development. 

"Any pressure measures [from the U.S.] are unreasonable and won't work."