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The former US president’s newest warning to impose an additional full import duty on products from China has been called a “typical example” of US double standards, as stated by the China’s leadership.

A representative of the ministry also stated that the nation could implement its own unspecified “countermeasures” if the American leader executes his threat, noting that the country was “unafraid” of a potential trade conflict.

On Friday, Trump retaliated at the Chinese government’s action to tighten its policies for overseas sales of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the world “under its control”.

He also vowed to withdraw from a arranged talks with Beijing’s head of state Xi, which was set for a meeting in South Korea in the coming weeks.

Trump’s comments on Friday rattled global markets, with the benchmark US stock index falling by over two and a half percent, marking its largest decline since earlier this year.

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

Earlier this year, the two sides had agreed to eliminate significant levies on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, American import duties on products from China subject to an extra thirty percent tariff compared with the year’s onset, while items from the United States entering China face a import levy.

The most recent comments from China – published by the Ministry of Commerce in the manner of formal replies to press queries – echoed language from the zenith of the latest commercial tensions.

Officials denounced United States controls on chips and semi-conductors while defending China’s own restrictions on exports on rare earths as “standard procedures” to protect state interests and that of all nations.

The official remarked that for “many years”, the US had “expanded the interpretation” of national security, misused foreign shipment regulations and “enforced” discriminatory practices against Beijing.

“Turning to” trade levy ultimatums is not the right way to interact with China,” their representative said.

“China’s position on a tariff war has consistently been steady: we wish to avoid one, but we are fearless of one.”

Last week, the Chinese government announced it was tightening export controls on rare earths and additional substances critical for cutting-edge industry.

This was seen as a key move, as the country processes about ninety percent of the world’s rare earths, which are employed in goods such as renewable energy components and mobile phones.

Latest statements from Washington and Beijing are being viewed by observers as a strategy of strengthening positions in preparation for upcoming negotiations.

It is unclear whether a talks between Donald Trump and President Xi, scheduled at a conference in the Republic of Korea later this month, will still proceed.