China will immediately retaliate if U.S. imposes $100b in tariffs

China's Ministry of Commerce warned Friday that it will immediately retaliate if the U.S. imposes the additional $100 billion in tariffs that President Trump threatened on Thursday, and said the country is not ruling out any options.

Why it matters: The Trump administration insists they aren't engaging in a trade war with China, but the country's latest comments have increasingly made it appear to be just that.