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Trump’s most recent warning to impose an additional 100% tariff on items imported from China has been called a “classic case” of US double standards, according to the Chinese government.

A representative of the ministry further commented that Beijing could enact its own unspecified “countermeasures” if the US President follows through on his warning, emphasizing that the country was “fearless” of a looming commercial battle.

Last Friday, Donald Trump hit back at China’s decision to reinforce its regulations for exports of rare earth minerals, charging China of “turning aggressive” and attempting to hold the international market “captive”.

Furthermore, he warned to withdraw from a planned summit with China’s President Xi Jinping, which was expected to take place during a conference in the Republic of Korea later this month.

Trump’s comments on Friday unsettled stock exchanges, with the S&P 500 share index falling by nearly three percent, marking its steepest fall since April.

These statements revived concerns of a trade conflict between the two economic giants.

In May, the two sides had consented to eliminate significant levies on each other’s goods, which had created the possibility of bilateral trade stopping between the economic powers.

This left, American import duties on Chinese imports facing an extra import tax compared with the start of the year, while American products entering the Chinese market are subject to a 10% tariff.

Beijing’s recent statements – issued by the Ministry of Commerce in the manner of formal replies to press queries – reflected terminology from the height of the latest commercial tensions.

They criticised American limits on exports on electronic components while defending Beijing’s export controls on key elements as “routine measures” to safeguard state interests and that of the global community.

Their representative remarked that for “an extended period”, the US had “overstretched the concept of state security, abused export control measures and “adopted discriminatory practices against the Chinese nation.

“Using” import duty warnings is not the correct approach to deal with Beijing,” the spokesperson stated.

“China’s position on a trade conflict has always been consistent: we do not want 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 further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the state processes about 90% of the planet’s critical minerals, which are utilized in goods such as renewable energy components and mobile phones.

Latest statements from the US and China are being viewed by some as a means of bolstering negotiating stances ahead of upcoming negotiations.

Is not yet known whether a summit between Trump and Xi Jinping, planned at a summit in the Republic of Korea later this month, will take place as planned.