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Trump’s newest warning to introduce an additional complete levy on Chinese goods has been described as a “prime illustration” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson also stated that China could implement its own undisclosed “retaliatory steps” if the White House occupant follows through on his warning, noting that the country was “unafraid” of a looming commercial battle.

This past Friday, Donald Trump retaliated at Beijing’s move to tighten its regulations for overseas sales of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the international market “captive”.

Additionally, he warned to cancel a scheduled summit with Chinese leader Xi, which was set for a meeting in South Korea in the coming weeks.

Trump’s comments on Friday shook global markets, with the S&P 500 falling by over two and a half percent, marking its steepest fall since last spring.

His comments renewed concerns of a trade war between the two economic giants.

In May, the respective governments had consented to remove significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, American import duties on Chinese goods subject to an extra thirty percent tariff compared with the start of the year, while items from the United States entering China are subject to a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the manner of formal replies to press queries – reflected language from the zenith of the recent trade conflict.

The remarks condemned United States controls on chips and semi-conductors while defending the country’s own export controls on key elements as “routine measures” to ensure national security and that of every country.

The spokesperson stated that for “many years”, the America had “expanded the interpretation” of national security, misused overseas sale restrictions and “enforced” discriminatory practices against Beijing.

“Using” tariff threats is not the proper method to deal with the Chinese government,” the official said.

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

Last week, Beijing revealed it was strengthening overseas sale regulations on rare earth minerals and other materials critical for high-technology production.

The action was viewed as a key move, as the nation refines about the vast majority of the world’s rare earths, which are used in goods such as solar panels and mobile phones.

The recent comments from the US and China are being viewed by analysts as a strategy of bolstering negotiating stances prior to forthcoming discussions.

Is not yet known whether a summit between Donald Trump and President Xi, scheduled at a conference in South Korea later this month, will go ahead.