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Trump’s latest threat to enforce an additional 100% tariff on items imported from China has been called a “prime illustration” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could implement its own undisclosed “retaliatory steps” if the American leader carries out his threat, adding that the country was “not afraid” of a possible trade war.

Last Friday, Trump hit back at China’s decision to tighten its policies for foreign shipments of critical elements, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Additionally, he warned to pull out of a arranged meeting with Beijing’s head of state President Xi, which was expected to take place during a summit in Seoul before the month ends.

His statements on Friday unsettled financial markets, with the benchmark US stock index falling by over two and a half percent, marking its biggest drop since earlier this year.

His comments revived concerns of a trade war between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the two nations.

As a result, US tariffs on Chinese imports facing an extra 30% levy compared with the start of the year, while items from the United States entering China are subject to a import levy.

China’s latest remarks – issued by the relevant government department in the manner of written responses to press queries – echoed language from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while supporting China’s own export controls on rare earths as “normal actions” to ensure domestic safety and that of every country.

The official remarked that for “many years”, the America had “expanded the interpretation” of state security, misused overseas sale restrictions and “adopted biased policies against Beijing.

“Resorting to import duty warnings is not the correct approach to deal with the Chinese government,” the spokesperson stated.

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

Last week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earth minerals and additional substances vital for high-technology production.

The action was viewed as a key move, as the nation refines about the vast majority of the world’s rare earths, which are used in goods such as solar panels and smartphones.

The recent comments from the US and China are being interpreted by analysts as a strategy of strengthening positions ahead of forthcoming discussions.

Is not yet known whether a meeting between Donald Trump and China’s leader, planned at a high-level meeting in South Korea before month’s end, will still proceed.