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Trump’s most recent warning to enforce an further full import duty on items imported from China has been described as a “typical example” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry additionally remarked that Beijing could introduce its own unspecified “countermeasures” if the American leader follows through on his pledge, emphasizing that the country was “fearless” of a looming commercial battle.

This past Friday, Donald Trump responded at the Chinese government’s action to reinforce its policies for exports of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the international market “under its control”.

Furthermore, he threatened to pull out of a arranged summit with China’s President Xi, which was set for a meeting in Seoul in the coming weeks.

The former president’s remarks on Friday unsettled stock exchanges, with the S&P 500 falling by 2.7%, marking its largest decline since earlier this year.

These statements renewed fears of a trade conflict between the two economic giants.

Earlier this year, the respective governments had agreed to eliminate high import duties on each other’s goods, which had created the possibility of commerce ceasing between the economic powers.

As a result, US tariffs on products from China facing an added 30% levy compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

China’s latest remarks – released by the relevant government department in the manner of written responses to journalist’s questions – reflected rhetoric from the height of the latest commercial tensions.

They criticised United States controls on chips and semi-conductors while supporting the country’s own overseas sale regulations on rare earth minerals as “normal actions” to ensure national security and that of all nations.

Their representative remarked that for “many years”, the America had “broadened the definition” of domestic safety, abused export control measures and “enforced” biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to engage with China,” their representative commented.

“Beijing’s stance” on a tariff war has consistently been steady: we do not want one, but we are fearless of one.”

The previous week, the Chinese government revealed it was reinforcing export controls on rare earth minerals and additional substances essential to high-technology production.

This was seen as a significant step, as the state refines about ninety percent of the planet’s critical minerals, which are used in products such as renewable energy components and smartphones.

Latest statements from both governments are being interpreted by analysts as a means of bolstering negotiating stances prior to future trade talks.

Is not yet known whether a meeting between Trump and China’s leader, scheduled at a high-level meeting in the Republic of Korea later this month, will go ahead.