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Donald Trump’s newest warning to enforce an additional complete levy on items imported from China has been described as a “prime illustration” of US double standards, according to the Chinese government.

A Commerce Ministry spokesperson additionally remarked that China could introduce its own unspecified “retaliatory steps” if the American leader carries out his warning, emphasizing that the country was “fearless” of a potential trade conflict.

This past Friday, the former president responded at the Chinese government’s action to tighten its regulations for exports of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the international market “hostage”.

Furthermore, he vowed to cancel a planned summit with Beijing’s head of state President Xi, which was expected to take place during a meeting in the Republic of Korea before the month ends.

His statements on Friday shook financial markets, with the benchmark US stock index closing down over two and a half percent, marking its steepest fall since April.

These statements revived concerns of a trade war between the United States and China.

Earlier this year, the respective governments had consented to drop significant levies on each other’s imports, which had led to concerns of commerce ceasing between the two countries.

As a result, United States levies 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.

The most recent comments from China – released by the Commerce Ministry in the manner of formal replies to media inquiries – reflected terminology from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while supporting the country’s own overseas sale regulations on rare earth minerals as “normal actions” to ensure national security and that of the global community.

Their representative said that for “an extended period”, the United States had “overstretched the concept of state security, abused overseas sale restrictions and “enforced” discriminatory practices against China.

“Using” import duty warnings is not the proper method to deal with the Chinese government,” their representative stated.

“Beijing’s stance” on a tariff war has consistently been unchanging: we do not want one, but we are not afraid of one.”

Recently, the Chinese government announced it was reinforcing overseas sale regulations on rare earths and additional substances vital for high-technology production.

This move was regarded as a important measure, as the nation refines about 90% of the world’s rare earths, which are utilized in products such as solar panels and smartphones.

The recent comments from both governments are being seen by some as a method of bolstering negotiating stances ahead of forthcoming discussions.

Remains uncertain whether a meeting between Trump and China’s leader, expected at a summit in South Korea before month’s end, will go ahead.