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Trump’s latest threat to impose an further 100% tariff on items imported from China has been called a “typical example” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that the nation could introduce its own unrevealed “retaliatory steps” if the White House occupant follows through on his threat, noting that the country was “fearless” of a looming trade war.

This past Friday, Donald Trump hit back at China’s decision to strengthen its regulations for foreign shipments of rare earths, charging Beijing of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he vowed to withdraw from a scheduled meeting with Beijing’s head of state Xi Jinping, which was set for a meeting in the Republic of Korea later this month.

His statements on that day unsettled financial markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since last spring.

The president’s words revived apprehensions of a trade conflict between the two economic giants.

Earlier this year, the two sides had consented to drop significant levies on each other’s goods, which had led to concerns of trade halting between the economic powers.

This left, United States levies on Chinese imports incurring an additional import tax compared with the year’s onset, while items from the United States entering China face a import levy.

The most recent comments from China – released by the relevant government department in the manner of formal replies to journalist’s questions – mirrored rhetoric from the peak of the latest commercial tensions.

They criticised US export restrictions on chips and semi-conductors while justifying Beijing’s export controls on key elements as “standard procedures” to safeguard state interests and that of the global community.

Their representative said that for “many years”, the US had “broadened the definition” of state security, exploited overseas sale restrictions and “implemented” unfair treatments against China.

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

“The nation’s view” on a trade conflict has consistently been unchanging: we wish to avoid one, but we are fearless of one.”

Recently, China revealed it was tightening export controls on key elements and further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the country refines about ninety percent of the global rare earth supply, which are employed in products such as photovoltaic modules and handheld devices.

New remarks from both governments are being seen by some as a means of strengthening positions ahead of future trade talks.

It is unclear whether a summit between Donald Trump and China’s leader, expected at a summit in the Republic of Korea in the coming weeks, will go ahead.