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

A Commerce Ministry spokesperson also stated that Beijing could introduce its own undisclosed “responsive actions” if the US President executes his warning, noting that the country was “fearless” of a possible trade conflict.

On Friday, Donald Trump retaliated at China’s decision to strengthen its rules for exports of rare earth minerals, charging China of “turning aggressive” and attempting to hold the international market “captive”.

Furthermore, he threatened to cancel a arranged summit with Chinese leader President Xi, which was arranged for a summit in the Republic of Korea later this month.

The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index dropping nearly three percent, marking its steepest fall since last spring.

His comments reignited fears of a commercial dispute between the two economic giants.

In May, the respective governments had agreed to drop significant levies on each other’s goods, which had led to concerns of trade halting between the two nations.

Consequently, American import duties on Chinese goods incurring an extra import tax compared with the year’s onset, while items from the United States entering the Chinese market incur a import levy.

Beijing’s recent statements – published by the Commerce Ministry in the form of official answers to journalist’s questions – echoed terminology from the zenith of the ongoing trade dispute.

Officials denounced United States controls on electronic components while justifying Beijing’s restrictions on exports on rare earth minerals as “normal actions” to ensure national security and that of all nations.

The spokesperson said that for “many years”, the US had “overstretched the concept of state security, exploited overseas sale restrictions and “adopted unfair treatments against Beijing.

“Using” tariff threats is not the right way to engage with China,” the spokesperson commented.

“China’s position on a tariff war has consistently been steady: we do not want one, but we are fearless of one.”

Last week, the Chinese government announced it was tightening overseas sale regulations on key elements and further resources essential to high-technology production.

This move was regarded as a key move, as the country processes about the vast majority of the global rare earth supply, which are used in products such as renewable energy components and smartphones.

The recent comments from Washington and Beijing are being seen by observers as a strategy of bolstering negotiating stances ahead of forthcoming discussions.

Is not yet known whether a summit between Trump and President Xi, planned at a summit in Seoul in the coming weeks, will still proceed.