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Donald Trump’s most recent ultimatum to impose an extra complete levy on items imported from China has been described as a “typical example” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry also stated that Beijing could implement its own unspecified “retaliatory steps” if the US President carries out his threat, noting that the country was “unafraid” of a possible trade war.

On Friday, Trump retaliated at Beijing’s move to strengthen its regulations for overseas sales of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Furthermore, he vowed to pull out of a scheduled meeting with Chinese leader Xi, which was arranged for a conference in Seoul before the month ends.

His statements on Friday unsettled stock exchanges, with the S&P 500 dropping over two and a half percent, marking its biggest drop since April.

These statements renewed concerns of a trade war between the US and China.

This past spring, the respective governments had reached an agreement to eliminate high import duties on each other’s goods, which had led to concerns of commerce ceasing between the economic powers.

Consequently, American import duties on products from China incurring an additional 30% levy compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the form of written responses to journalist’s questions – echoed terminology from the zenith of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while justifying China’s own export controls on key elements as “standard procedures” to ensure domestic safety and that of every country.

The spokesperson said that for “many years”, the America had “overstretched the concept of state security, exploited overseas sale restrictions and “adopted biased policies against China.

“Turning to” trade levy ultimatums is not the proper method to interact with the Chinese government,” the official commented.

“Beijing’s stance” on a trade conflict has remained consistent: we are not seeking one, but we are fearless of one.”

The previous week, Beijing declared it was tightening foreign shipment restrictions on rare earth minerals and further resources vital for cutting-edge industry.

The action was viewed as a key move, as the country processes about ninety percent of the planet’s critical minerals, which are used in goods such as solar panels and mobile phones.

The recent comments from both governments are being seen by analysts as a means of bolstering negotiating stances prior to forthcoming discussions.

It is unclear whether a talks between the former president and Xi Jinping, scheduled at a high-level meeting in South Korea before month’s end, will go ahead.