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The former US president’s most recent ultimatum to introduce an further 100% tariff on Chinese goods has been labeled a “typical example” of US double standards, according to the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could enact its own undisclosed “countermeasures” if the White House occupant carries out his threat, emphasizing that the country was “unafraid” of a looming trade war.

This past Friday, Trump hit back at Beijing’s move to reinforce its regulations for overseas sales of rare earths, accusing China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also vowed to cancel a scheduled meeting with Beijing’s head of state Xi Jinping, which was expected to take place during a conference in South Korea before the month ends.

Trump’s comments on last Friday unsettled stock exchanges, with the benchmark US stock index dropping over two and a half percent, marking its largest decline since earlier this year.

These statements renewed concerns of a trade conflict between the United States and China.

Earlier this year, the respective governments had reached an agreement to eliminate high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, US tariffs on Chinese imports incurring an additional import tax compared with the start of the year, while items from the United States entering China incur a import levy.

China’s latest remarks – released by the relevant government department in the format of formal replies to press queries – mirrored language from the zenith of the recent trade conflict.

They criticised United States controls on chips and semi-conductors while supporting China’s own overseas sale regulations on rare earth minerals as “routine measures” to safeguard state interests and that of the global community.

Their representative stated that for “many years”, the America had “overstretched the concept of domestic safety, abused overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to engage with China,” the official said.

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

The previous week, Beijing declared it was reinforcing foreign shipment restrictions on rare earth minerals and other materials vital for high-technology production.

This was seen as a significant step, as the state processes about ninety percent of the global rare earth supply, which are used in goods such as solar panels and handheld devices.

The recent comments from Washington and Beijing are being viewed by observers as a method of strengthening positions ahead of forthcoming discussions.

It is unclear whether a talks between Donald Trump and President Xi, planned at a conference in South Korea later this month, will go ahead.