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Donald Trump’s most recent warning to impose an further complete levy on Chinese goods has been called a “prime illustration” of US double standards, as stated by the China’s leadership.

A representative of the ministry further commented that the nation could implement its own unspecified “responsive actions” if the US President follows through on his threat, adding that the country was “unafraid” of a looming trade war.

This past Friday, the former president responded at the Chinese government’s action to strengthen its policies for exports of rare earths, alleging China of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

He also vowed to withdraw from a scheduled meeting with China’s President Xi, which was arranged for a summit in Seoul in the coming weeks.

His statements on Friday rattled financial markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since earlier this year.

The president’s words reignited apprehensions of a commercial dispute between the two economic giants.

Earlier this year, the two sides had reached an agreement to drop triple-digit tariffs on each other’s goods, which had led to concerns of trade halting between the economic powers.

As a result, US tariffs on products from China subject to an extra 30% levy compared with the year’s onset, while items from the United States entering the Chinese market face a 10% tariff.

China’s latest remarks – released by the relevant government department in the manner of official answers to press queries – echoed rhetoric from the zenith of the latest commercial tensions.

Officials denounced United States controls on electronic components while defending Beijing’s export controls on rare earths as “routine measures” to protect state interests and that of all nations.

The official stated that for “a long time”, the US had “overstretched the concept of national security, misused overseas sale restrictions and “implemented” unfair treatments against Beijing.

“Resorting to trade levy ultimatums is not the right way to engage with Beijing,” their representative commented.

“Beijing’s stance” on a import duty dispute has remained steady: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government announced it was reinforcing foreign shipment restrictions on rare earth minerals and other materials essential to advanced tech manufacturing.

The action was viewed as a important measure, as the state refines about the vast majority of the global rare earth supply, which are employed in products such as renewable energy components and smartphones.

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

Remains uncertain whether a summit between Trump and President Xi, planned at a high-level meeting in Seoul before month’s end, will take place as planned.