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Trump’s newest warning to impose an additional 100% tariff on products from China has been called a “classic case” of US double standards, as stated by the Chinese government.

A Commerce Ministry spokesperson additionally remarked that China could enact its own unspecified “responsive actions” if the White House occupant carries out his warning, adding that the country was “fearless” of a looming trade war.

This past Friday, Trump retaliated at Beijing’s move to reinforce its regulations for exports of critical elements, accusing China of “becoming very hostile” and attempting to hold the global community “under its control”.

Furthermore, he threatened to pull out of a planned talks with Beijing’s head of state Xi Jinping, which was arranged for a summit in Seoul later this month.

Trump’s comments on last Friday rattled financial markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since earlier this year.

The president’s words reignited apprehensions of a trade war between the two economic giants.

In May, the two sides had reached an agreement to eliminate 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 subject to an additional 30% levy compared with the year’s onset, while US goods entering the country face a import levy.

Beijing’s recent statements – published by the Ministry of Commerce in the manner of official answers to media inquiries – mirrored terminology from the height of the latest commercial tensions.

They criticised American limits on exports on electronic components while supporting the country’s own restrictions on exports on rare earths as “standard procedures” to protect domestic safety and that of all nations.

Their representative said that for “many years”, the US had “overstretched the concept of national security, misused overseas sale restrictions and “adopted discriminatory practices against the Chinese nation.

“Resorting to import duty warnings is not the right way to interact with the Chinese government,” the official said.

“China’s position on a trade conflict has consistently been steady: we are not seeking one, but we are unafraid of one.”

Recently, the Chinese government announced it was strengthening export controls on key elements and other materials critical for cutting-edge industry.

This was seen as a key move, as the state processes about ninety percent of the planet’s critical minerals, which are used in products such as renewable energy components and handheld devices.

The recent comments from the US and China are being viewed by analysts as a method of enhancing bargaining power in preparation for future trade talks.

Remains uncertain whether a meeting between Trump and Xi Jinping, planned at a summit in South Korea in the coming weeks, will still proceed.