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Trump’s most recent warning to impose an additional full import duty on Chinese goods has been labeled a “prime illustration” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could enact its own unrevealed “retaliatory steps” if the US President follows through on his pledge, emphasizing that the country was “not afraid” of a potential trade conflict.

On Friday, Donald Trump hit back at the Chinese government’s action to reinforce its policies for overseas sales of rare earth minerals, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “captive”.

He also warned to pull out of a arranged meeting with Chinese leader Xi Jinping, which was set for a conference in the Republic of Korea before the month ends.

His statements on last Friday unsettled financial markets, with the benchmark US stock index dropping 2.7%, marking its biggest drop since April.

The president’s words reignited fears of a trade war between the United States and China.

This past spring, the both nations had agreed to remove high import duties on each other’s products, which had created the possibility of commerce ceasing between the two countries.

As a result, US tariffs on Chinese imports subject to an added 30% levy compared with the start of the year, while US goods entering the Chinese market are subject to a ten percent duty.

The most recent comments from China – published by the Ministry of Commerce in the format of written responses to journalist’s questions – reflected rhetoric from the height of the ongoing trade dispute.

They criticised United States controls on semiconductors and chips while supporting Beijing’s restrictions on exports on key elements as “standard procedures” to protect national security and that of the global community.

The spokesperson remarked that for “an extended period”, the United States had “overstretched the concept of state security, misused overseas sale restrictions and “enforced” unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the proper method to engage with the Chinese government,” their representative said.

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

The previous week, Beijing declared it was strengthening export controls on rare earths and further resources vital for advanced tech manufacturing.

This was seen as a important measure, as the state handles about the vast majority of the global rare earth supply, which are employed in items such as solar panels and handheld devices.

The recent comments from both governments are being seen by analysts as a method of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a talks between Donald Trump and President Xi, planned at a summit in South Korea in the coming weeks, will go ahead.