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The former US president’s latest warning to introduce an extra complete levy on Chinese goods has been called a “prime illustration” of US double standards, per the China’s leadership.

A representative of the ministry also stated that China could enact its own unspecified “countermeasures” if the US President carries out his warning, adding that the country was “fearless” of a possible trade war.

This past Friday, Donald Trump retaliated at Beijing’s move to tighten its policies for overseas sales of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the global community “hostage”.

He also threatened to cancel a arranged talks with Chinese leader Xi Jinping, which was expected to take place during a conference in Seoul later this month.

Trump’s comments on last Friday shook financial markets, with the S&P 500 falling by nearly three percent, marking its steepest fall since earlier this year.

His comments renewed fears of a trade conflict between the two economic giants.

This past spring, the respective governments had consented to remove triple-digit tariffs on each other’s products, which had raised the prospect of commerce ceasing between the economic powers.

This left, US tariffs on Chinese imports facing an added import tax compared with the start of the year, while US goods entering China are subject to a import levy.

The most recent comments from China – published by the relevant government department in the manner of official answers to media inquiries – echoed language from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while defending China’s own overseas sale regulations on rare earths as “standard procedures” to safeguard national security and that of all nations.

The official stated that for “many years”, the America had “broadened the definition” of state security, misused foreign shipment regulations and “adopted discriminatory practices against Beijing.

“Resorting to trade levy ultimatums is not the correct approach to deal with the Chinese government,” the official said.

“The nation’s view” on a import duty dispute has remained unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government revealed it was reinforcing overseas sale regulations on key elements and further resources vital for high-technology production.

This was seen as a key move, as the nation refines about ninety percent of the world’s rare earths, which are utilized in goods such as solar panels and handheld devices.

New remarks from Washington and Beijing are being interpreted by some as a strategy of enhancing bargaining power ahead of upcoming negotiations.

It is unclear whether a talks between Donald Trump and President Xi, planned at a high-level meeting in Seoul in the coming weeks, will take place as planned.