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Trump’s latest threat to enforce an extra 100% tariff on items imported from China has been labeled a “classic case” of US double standards, per the China’s leadership.

A representative of the ministry additionally remarked that Beijing could enact its own unspecified “responsive actions” if the US President follows through on his pledge, emphasizing that the country was “not afraid” of a potential trade conflict.

This past Friday, Trump retaliated at China’s decision to reinforce its rules for exports of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Additionally, he vowed to cancel a planned talks with Beijing’s head of state President Xi, which was arranged for a meeting in the Republic of Korea before the month ends.

Trump’s comments on Friday unsettled global markets, with the S&P 500 share index dropping 2.7%, marking its steepest fall since April.

His comments revived fears of a trade war between the two economic giants.

This past spring, the respective governments had reached an agreement to drop high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

This left, American import duties on products from China subject to an added 30% levy compared with the year’s onset, while American products entering the country face a 10% tariff.

The most recent comments from China – published by the Commerce Ministry in the manner of written responses to media inquiries – echoed terminology from the height of the ongoing trade dispute.

Officials denounced American limits on exports on electronic components while justifying China’s own restrictions on exports on rare earth minerals as “standard procedures” to ensure state interests and that of all nations.

The official remarked that for “a long time”, the United States had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” biased policies against China.

“Using” import duty warnings is not the right way to interact with China,” the official commented.

“China’s position on a tariff war has always been steady: we wish to avoid one, but we are not afraid of one.”

Recently, Beijing declared it was reinforcing overseas sale regulations on rare earths and additional substances essential to cutting-edge industry.

This move was regarded as a important measure, as the state processes about the vast majority of the planet’s critical minerals, which are utilized in goods such as photovoltaic modules and handheld devices.

The recent comments from the US and China are being viewed by some as a method of enhancing bargaining power ahead of upcoming negotiations.

Remains uncertain whether a talks between Donald Trump and China’s leader, scheduled at a summit in the Republic of Korea before month’s end, will take place as planned.