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Trump’s most recent ultimatum to impose an additional 100% tariff on items imported from China has been labeled a “prime illustration” of US double standards, per the Beijing administration.

A official from China’s Commerce Ministry also stated that China could enact its own unrevealed “responsive actions” if the US President carries out his threat, emphasizing that the country was “not afraid” of a potential trade conflict.

On Friday, Donald Trump hit back at Beijing’s move to strengthen its rules for exports of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the global community “under its control”.

Furthermore, he threatened to withdraw from a planned summit with Chinese leader President Xi, which was set for a summit in the Republic of Korea in the coming weeks.

Trump’s comments on Friday rattled global markets, with the S&P 500 dropping over two and a half percent, marking its largest decline since last spring.

His comments revived fears of a trade conflict between the US and China.

Earlier this year, the respective governments had reached an agreement to remove triple-digit tariffs on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, American import duties on products from China subject to an additional import tax compared with the start of the year, while US goods entering the country are subject to a import levy.

China’s latest remarks – issued by the Ministry of Commerce in the form of official answers to press queries – reflected language from the height of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while defending China’s own restrictions on exports on rare earths as “routine measures” to ensure state interests and that of all nations.

The official stated that for “many years”, the America had “broadened the definition” of national security, exploited overseas sale restrictions and “enforced” discriminatory practices against the Chinese nation.

“Using” import duty warnings is not the right way to deal with China,” the spokesperson stated.

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

Last week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earths and other materials vital for high-technology production.

This move was regarded as a significant step, as the country processes about the vast majority of the planet’s critical minerals, which are employed in items such as photovoltaic modules and handheld devices.

New remarks from the US and China are being interpreted by observers as a means of strengthening positions ahead of upcoming negotiations.

Is not yet known whether a summit between Donald Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea later this month, will go ahead.