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Donald Trump’s most recent warning to introduce an extra 100% tariff on items imported from China has been labeled a “typical example” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could introduce its own unspecified “retaliatory steps” if the White House occupant executes his warning, adding that the country was “fearless” of a potential commercial battle.

This past Friday, the former president retaliated at Beijing’s move to tighten its policies for overseas sales of rare earths, charging China of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he vowed to cancel a arranged talks with Beijing’s head of state Xi Jinping, which was expected to take place during a summit in Seoul later this month.

His statements on Friday shook stock exchanges, with the S&P 500 falling by over two and a half percent, marking its biggest drop since earlier this year.

His comments renewed apprehensions of a trade war between the US and China.

Earlier this year, the respective governments had consented to remove triple-digit tariffs on each other’s products, which had led to concerns of commerce ceasing between the economic powers.

As a result, US tariffs on products from China facing an additional import tax compared with the year’s onset, while items from the United States entering the country incur a import levy.

Beijing’s recent statements – published by the Commerce Ministry in the form of formal replies to media inquiries – echoed rhetoric from the peak of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while defending the country’s own restrictions on exports on rare earths as “routine measures” to ensure domestic safety and that of the global community.

The spokesperson stated that for “a long time”, the US had “overstretched the concept of domestic safety, abused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Resorting to tariff threats is not the correct approach to interact with Beijing,” the official said.

“The nation’s view” on a tariff war has consistently been steady: we do not want one, but we are not afraid of one.”

The previous week, Beijing declared it was reinforcing export controls on key elements and additional substances vital for high-technology production.

This was seen as a significant step, as the country handles about 90% of the world’s rare earths, which are employed in products such as solar panels and smartphones.

Latest statements from the US and China are being interpreted by analysts as a method of enhancing bargaining power prior to forthcoming discussions.

Is not yet known whether a summit between Trump and President Xi, scheduled at a high-level meeting in the Republic of Korea before month’s end, will still proceed.