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Trump’s newest threat to enforce an additional 100% tariff on items imported from China has been described as a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson further commented that the nation could enact its own undisclosed “retaliatory steps” if the White House occupant follows through on his warning, emphasizing that the country was “not afraid” of a possible trade conflict.

On Friday, Donald Trump hit back at Beijing’s move to strengthen its regulations for exports of critical elements, charging Beijing of “becoming very hostile” and attempting to hold the international market “hostage”.

Furthermore, he warned to cancel a scheduled talks with Beijing’s head of state Xi, which was arranged for a summit in South Korea in the coming weeks.

Trump’s comments on Friday rattled financial markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since April.

These statements renewed concerns of a commercial dispute between the two economic giants.

Earlier this year, the respective governments had reached an agreement to drop significant levies on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

This left, United States levies on products from China incurring an added import tax compared with the year’s onset, while American products entering the Chinese market incur a import levy.

The most recent comments from China – published by the relevant government department in the manner of official answers to press queries – reflected language from the zenith of the ongoing trade dispute.

The remarks condemned American limits on exports on chips and semi-conductors while defending the country’s own export controls on rare earth minerals as “normal actions” to protect state interests and that of the global community.

The official said that for “a long time”, the US had “broadened the definition” of state security, misused export control measures and “implemented” biased policies against Beijing.

“Resorting to tariff threats is not the right way to engage with Beijing,” their representative said.

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

Recently, China announced it was tightening export controls on rare earths and additional substances critical for cutting-edge industry.

This move was regarded as a significant step, as the state refines about 90% of the global rare earth supply, which are utilized in products such as photovoltaic modules and handheld devices.

Latest statements from Washington and Beijing are being interpreted by analysts as a means of strengthening positions prior to upcoming negotiations.

Is not yet known whether a talks between Trump and President Xi, scheduled at a summit in the Republic of Korea before month’s end, will take place as planned.