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Trump’s latest threat to introduce an extra 100% tariff on products from China has been described as a “prime illustration” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry also stated that China could enact its own undisclosed “retaliatory steps” if the White House occupant follows through on his pledge, noting that the country was “unafraid” of a looming trade conflict.

On Friday, Trump hit back at China’s decision to reinforce its regulations for exports of rare earth minerals, alleging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a planned talks with Chinese leader Xi Jinping, which was set for a meeting in South Korea before the month ends.

The former president’s remarks on that day rattled financial markets, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since earlier this year.

His comments renewed concerns of a trade conflict between the United States and China.

Earlier this year, the both nations had agreed to drop high import duties on each other’s goods, which had created the possibility of commerce ceasing between the two countries.

Consequently, United States levies on Chinese goods facing an added 30% levy compared with the start of the year, while American products entering China are subject to a ten percent duty.

China’s latest remarks – issued by the Commerce Ministry in the manner of written responses to journalist’s questions – echoed language from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on electronic components while defending the country’s own overseas sale regulations on key elements as “normal actions” to ensure state interests and that of all nations.

Their representative remarked that for “many years”, the America had “expanded the interpretation” of state security, exploited export control measures and “adopted biased policies against Beijing.

“Resorting to tariff threats is not the proper method to deal with Beijing,” their representative commented.

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

Recently, China announced it was tightening foreign shipment restrictions on rare earth minerals and other materials vital for cutting-edge industry.

This was seen as a significant step, as the state processes about ninety percent of the world’s rare earths, which are employed in items such as solar panels and smartphones.

New remarks from both governments are being seen by analysts as a strategy of strengthening positions ahead of future trade talks.

Is not yet known whether a meeting between Trump and China’s leader, expected at a conference in the Republic of Korea in the coming weeks, will still proceed.