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Donald Trump’s newest warning to impose an extra 100% tariff on items imported from China has been described as a “classic case” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry also stated that the nation could implement its own unspecified “countermeasures” if the American leader executes his warning, noting that the country was “unafraid” of a possible trade war.

Last Friday, Trump retaliated at China’s decision to tighten its rules for exports of rare earths, accusing China of “becoming very hostile” and attempting to hold the international market “captive”.

He also warned to pull out of a arranged summit with Beijing’s head of state Xi, which was arranged for a conference in the Republic of Korea later this month.

His statements on last Friday 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 reignited concerns of a commercial dispute between the US and China.

Earlier this year, the two sides had consented to remove triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

This left, US tariffs on Chinese imports subject to an extra 30% levy compared with the year’s onset, while items from the United States entering the country are subject to a import levy.

Beijing’s recent statements – published by the Commerce Ministry in the form of written responses to journalist’s questions – reflected terminology from the zenith of the recent trade conflict.

The remarks condemned US export restrictions on electronic components while supporting China’s own overseas sale regulations on rare earths as “normal actions” to safeguard domestic safety and that of all nations.

The spokesperson said that for “a long time”, the US had “broadened the definition” of national security, exploited export control measures and “implemented” biased policies against China.

“Turning to” tariff threats is not the correct approach to deal with Beijing,” the spokesperson stated.

“Beijing’s stance” on a trade conflict has always been consistent: we do not want one, but we are not afraid of one.”

Recently, Beijing declared it was reinforcing export controls on rare earths and other materials essential to high-technology production.

This was seen as a key move, as the state refines about ninety percent of the planet’s critical minerals, which are employed in items such as renewable energy components and mobile phones.

Latest statements from the US and China are being interpreted by analysts as a strategy of bolstering negotiating stances in preparation for forthcoming discussions.

Is not yet known whether a meeting between the former president and President Xi, scheduled at a high-level meeting in the Republic of Korea before month’s end, will take place as planned.