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The former US president’s latest warning to introduce an additional complete levy on items imported from China has been labeled a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that China could implement its own unspecified “responsive actions” if the US President follows through on his threat, adding that the country was “not afraid” of a possible trade conflict.

Last Friday, Trump hit back at Beijing’s move to reinforce its policies for overseas sales of rare earths, alleging China of “turning aggressive” and attempting to hold the international market “captive”.

Additionally, he threatened to withdraw from a arranged meeting with Chinese leader President Xi, which was arranged for a meeting in the Republic of Korea later this month.

Trump’s comments on Friday shook financial markets, with the S&P 500 share index dropping nearly three percent, marking its steepest fall since last spring.

His comments reignited fears of a commercial dispute between the two economic giants.

Earlier this year, the two sides had agreed to eliminate high import duties on each other’s imports, which had raised the prospect of bilateral trade stopping between the two countries.

This left, American import duties on Chinese goods subject to an added thirty percent tariff compared with the year’s onset, while American products entering the country are subject to a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the form of official answers to journalist’s questions – mirrored rhetoric from the peak of the ongoing trade dispute.

They criticised United States controls on semiconductors and chips while supporting the country’s own restrictions on exports on rare earths as “routine measures” to protect state interests and that of all nations.

Their representative remarked that for “an extended period”, the United States had “broadened the definition” of state security, abused export control measures and “adopted biased policies against Beijing.

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

“The nation’s view” on a tariff war has always been steady: we do not want one, but we are not afraid of one.”

The previous week, Beijing announced it was tightening export controls on rare earth minerals and further resources critical for advanced tech manufacturing.

This was seen as a important measure, as the nation processes about the vast majority of the planet’s critical minerals, which are used in products such as renewable energy components and smartphones.

The recent comments from Washington and Beijing are being seen by analysts as a strategy of strengthening positions prior to forthcoming discussions.

It is unclear whether a meeting between the former president and Xi Jinping, expected at a high-level meeting in South Korea later this month, will still proceed.