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Donald Trump’s most recent threat to impose an further complete levy on products from China has been described as a “prime illustration” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry also stated that China could introduce its own undisclosed “countermeasures” if the American leader executes his pledge, emphasizing that the country was “fearless” of a possible trade conflict.

On Friday, Trump retaliated at the Chinese government’s action to reinforce its rules for overseas sales of rare earths, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

He also warned to cancel a planned summit with China’s President President Xi, which was expected to take place during a summit in South Korea later this month.

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

These statements reignited fears of a trade conflict between the two economic giants.

This past spring, the two sides had consented to remove high import duties on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

Consequently, United States levies on products from China incurring an additional 30% levy compared with the year’s onset, while items from the United States entering the country face a 10% tariff.

China’s latest remarks – issued by the Commerce Ministry in the form of official answers to journalist’s questions – mirrored terminology from the peak of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while justifying the country’s own restrictions on exports on rare earth minerals as “normal actions” to protect national security and that of every country.

The official stated that for “a long time”, the US had “broadened the definition” of state security, exploited overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the proper method to deal with the Chinese government,” the spokesperson said.

“The nation’s view” on a import duty dispute has always been steady: we are not seeking one, but we are not afraid of one.”

Recently, Beijing announced it was strengthening export controls on key elements and additional substances critical for cutting-edge industry.

This was seen as a significant step, as the country handles about ninety percent of the planet’s critical minerals, which are utilized in items such as photovoltaic modules and mobile phones.

The recent comments from Washington and Beijing are being interpreted by analysts as a strategy of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a summit between the former president and China’s leader, scheduled at a high-level meeting in Seoul in the coming weeks, will take place as planned.