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Trump’s latest warning to enforce an extra complete levy on items imported from China has been called a “classic case” of US double standards, as stated by the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that China could enact its own unrevealed “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “fearless” of a possible trade war.

This past Friday, Trump retaliated at Beijing’s move to reinforce its policies for foreign shipments of rare earth minerals, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “hostage”.

He also warned to cancel a arranged meeting with Beijing’s head of state Xi Jinping, which was arranged for a conference in South Korea later this month.

His statements on Friday rattled stock exchanges, with the benchmark US stock index dropping 2.7%, marking its steepest fall since earlier this year.

His comments reignited concerns of a trade war between the United States and China.

This past spring, the two sides had agreed to eliminate triple-digit tariffs on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

This left, American import duties on Chinese imports facing an added thirty percent tariff compared with the start of the year, while American products entering China are subject to a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of formal replies to journalist’s questions – reflected terminology from the peak of the latest commercial tensions.

They criticised US export restrictions on semiconductors and chips while defending China’s own export controls on key elements as “normal actions” to ensure state interests and that of all nations.

The official said that for “a long time”, the America had “overstretched the concept of state security, exploited export control measures and “enforced” discriminatory practices against Beijing.

“Turning to” import duty warnings is not the proper method to engage with China,” the official said.

“The nation’s view” on a trade conflict has always been consistent: we are not seeking one, but we are fearless of one.”

Recently, China announced it was strengthening foreign shipment restrictions on rare earth minerals and additional substances essential to high-technology production.

The action was viewed as a significant step, as the nation refines about the vast majority of the planet’s critical minerals, which are employed in items such as photovoltaic modules and mobile phones.

New remarks from the US and China are being interpreted by observers as a means of enhancing bargaining power in preparation for future trade talks.

Remains uncertain whether a summit between Donald Trump and Xi Jinping, expected at a conference in the Republic of Korea before month’s end, will still proceed.