The Trump administration announced on Friday that tariffs the U.S. is imposing on China will be ratcheted up five percentage points, raising the 25 percent tariffs on $250 billion worth of Chinese goods to 30 percent and the 10 percent tariffs set to go into effect on Sept. 1 and Dec. 15 to 15 percent. China announced it would raise retaliatory tariffs on $75 billion worth of U.S. goods earlier on Friday, prompting Trump to say the he would address...