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Trump’s most recent threat to enforce an additional complete levy on Chinese goods has been labeled a “typical example” of US double standards, according to the China’s leadership.

A representative of the ministry additionally remarked that China could introduce its own unrevealed “retaliatory steps” if the White House occupant follows through on his threat, adding that the country was “fearless” of a possible trade conflict.

This past Friday, Trump retaliated at Beijing’s move to strengthen its regulations for overseas sales of critical elements, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

Additionally, he vowed to withdraw from a planned summit with Chinese leader Xi Jinping, which was expected to take place during a meeting in Seoul before the month ends.

The former president’s remarks on last Friday unsettled financial markets, with the benchmark US stock index closing down over two and a half percent, marking its steepest fall since earlier this year.

These statements reignited apprehensions of a trade conflict between the two economic giants.

In May, the respective governments had consented to drop high import duties on each other’s imports, which had created the possibility of commerce ceasing between the two nations.

This left, United States levies on Chinese goods facing an additional import tax compared with the year’s onset, while American products entering China incur a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the format of written responses to press queries – mirrored terminology from the zenith of the ongoing trade dispute.

They criticised US export restrictions on electronic components while justifying China’s own restrictions on exports on rare earths as “standard procedures” to safeguard domestic safety and that of every country.

The official stated that for “many years”, the US had “expanded the interpretation” of state security, exploited foreign shipment regulations and “adopted biased policies against Beijing.

“Turning to” tariff threats is not the proper method to deal with the Chinese government,” their representative stated.

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

Recently, China announced it was reinforcing export controls on key elements and further resources essential to advanced tech manufacturing.

This move was regarded as a significant step, as the state processes about the vast majority of the world’s rare earths, which are utilized in items such as renewable energy components and handheld devices.

Latest statements from the US and China are being interpreted by some as a strategy of strengthening positions in preparation for future trade talks.

Is not yet known whether a meeting between Trump and Xi Jinping, scheduled at a summit in Seoul later this month, will take place as planned.