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Trump’s most recent threat to introduce an extra full import duty on products from China has been labeled a “prime illustration” of US double standards, according to the Chinese government.

A official from China’s Commerce Ministry also stated that Beijing could enact its own unrevealed “countermeasures” if the American leader executes his pledge, adding that the country was “not afraid” of a looming trade conflict.

Last Friday, Donald Trump retaliated at the Chinese government’s action to reinforce its regulations for overseas sales of rare earth minerals, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “hostage”.

He also warned to pull out of a scheduled meeting with China’s President Xi Jinping, which was arranged for a conference in South Korea before the month ends.

Trump’s comments on last Friday shook stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since April.

His comments renewed concerns of a commercial dispute between the US and China.

Earlier this year, the both nations had reached an agreement to drop significant levies on each other’s products, which had created the possibility of trade halting between the two countries.

As a result, American import duties on Chinese imports subject to an added 30% levy compared with the start of the year, while items from the United States entering the country are subject to a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the manner of written responses to press queries – mirrored language from the zenith of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while defending the country’s own overseas sale regulations on rare earth minerals as “normal actions” to safeguard state interests and that of all nations.

The official stated that for “an extended period”, the United States had “broadened the definition” of state security, misused foreign shipment regulations and “enforced” biased policies against the Chinese nation.

“Turning to” import duty warnings is not the proper method to interact with Beijing,” the official commented.

“China’s position on a trade conflict has always been steady: we are not seeking one, but we are unafraid of one.”

Last week, the Chinese government declared it was reinforcing export controls on key elements and additional substances essential to cutting-edge industry.

This was seen as a important measure, as the country handles about ninety percent of the global rare earth supply, which are employed in goods such as solar panels and smartphones.

New remarks from Washington and Beijing are being viewed by analysts as a strategy of enhancing bargaining power prior to forthcoming discussions.

Remains uncertain whether a talks between the former president and President Xi, expected at a high-level meeting in Seoul in the coming weeks, will take place as planned.