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Trump’s latest warning to introduce an extra 100% tariff on items imported from China has been labeled a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unrevealed “responsive actions” if the US President carries out his pledge, adding that the country was “not afraid” of a potential trade war.

On Friday, the former president retaliated at Beijing’s move to tighten its rules for foreign shipments of rare earths, charging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “under its control”.

Additionally, he warned to cancel a arranged meeting with Beijing’s head of state President Xi, which was expected to take place during a summit in Seoul later this month.

The former president’s remarks on Friday rattled global markets, with the S&P 500 dropping 2.7%, marking its largest decline since April.

His comments reignited fears of a trade war between the United States and China.

In May, the both nations had reached an agreement to eliminate triple-digit tariffs on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

This left, United States levies on products from China incurring an additional thirty percent tariff compared with the start of the year, while items from the United States entering the country incur a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the form of formal replies to media inquiries – reflected terminology from the peak of the recent trade conflict.

They criticised US export restrictions on chips and semi-conductors while defending China’s own restrictions on exports on rare earths as “standard procedures” to safeguard state interests and that of the global community.

The spokesperson stated that for “many years”, the America had “overstretched the concept of national security, exploited foreign shipment regulations and “enforced” unfair treatments against China.

“Resorting to trade levy ultimatums is not the proper method to interact with the Chinese government,” the spokesperson said.

“The nation’s view” on a import duty dispute has remained unchanging: we are not seeking one, but we are unafraid of one.”

Last week, the Chinese government revealed it was strengthening foreign shipment restrictions on key elements and additional substances essential to cutting-edge industry.

The action was viewed as a significant step, as the nation refines about the vast majority of the global rare earth supply, which are utilized in products such as renewable energy components and mobile phones.

The recent comments from the US and China are being viewed by analysts as a method of bolstering negotiating stances in preparation for forthcoming discussions.

It is unclear whether a meeting between the former president and President Xi, scheduled at a summit in Seoul later this month, will go ahead.