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Trump’s newest threat to introduce an extra 100% tariff on products from China has been called a “prime illustration” of US double standards, according to the Chinese government.

A representative of the ministry also stated that the nation could introduce its own unspecified “retaliatory steps” if the US President follows through on his pledge, adding that the country was “unafraid” of a possible trade conflict.

This past Friday, the former president hit back at the Chinese government’s action to tighten its rules for foreign shipments of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

He also warned to pull out of a planned summit with Chinese leader Xi Jinping, which was expected to take place during a summit in Seoul in the coming weeks.

The former president’s remarks on Friday unsettled stock exchanges, with the benchmark US stock index falling by 2.7%, marking its largest decline since April.

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

Earlier this year, the both nations had consented to eliminate triple-digit tariffs on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, United States levies on Chinese imports incurring an extra import tax compared with the start of the year, while items from the United States entering the country incur a ten percent duty.

The most recent comments from China – published by the relevant government department in the format of official answers to media inquiries – mirrored rhetoric from the peak of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while defending the country’s own restrictions on exports on rare earth minerals as “standard procedures” to ensure domestic safety and that of every country.

The spokesperson said that for “a long time”, the America had “expanded the interpretation” of national security, misused foreign shipment regulations and “enforced” discriminatory practices against Beijing.

“Using” trade levy ultimatums is not the proper method to deal with the Chinese government,” the spokesperson said.

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

The previous week, Beijing revealed it was reinforcing export controls on rare earths and other materials essential to cutting-edge industry.

This move was regarded as a significant step, as the nation processes about ninety percent of the global rare earth supply, which are employed in goods such as photovoltaic modules and handheld devices.

Latest statements from the US and China are being seen by analysts as a method of strengthening positions ahead of upcoming negotiations.

Is not yet known 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.