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The former US president’s most recent warning to enforce an additional full import duty on Chinese goods has been called a “prime illustration” of US double standards, per the China’s leadership.

A representative of the ministry also stated that Beijing could implement its own unrevealed “countermeasures” if the White House occupant carries out his pledge, adding that the country was “fearless” of a possible trade war.

Last Friday, Donald Trump retaliated at China’s decision to strengthen its regulations for foreign shipments of rare earth minerals, alleging Beijing of “turning aggressive” and attempting to hold the international market “hostage”.

He also warned to cancel a arranged meeting with Beijing’s head of state Xi, which was expected to take place during a summit in the Republic of Korea before the month ends.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 closing down over two and a half percent, marking its steepest fall since earlier this year.

These statements renewed apprehensions of a trade war between the two economic giants.

This past spring, the respective governments had consented to remove significant levies on each other’s imports, which had raised the prospect of trade halting between the two countries.

This left, United States levies on Chinese imports subject to an added 30% levy compared with the start of the year, while items from the United States entering the country face a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the form of written responses to media inquiries – mirrored rhetoric from the peak of the ongoing trade dispute.

The remarks condemned US export restrictions on chips and semi-conductors while defending the country’s own export controls on key elements as “normal actions” to safeguard domestic safety and that of every country.

The official remarked that for “an extended period”, the America had “broadened the definition” of state security, exploited export control measures and “implemented” discriminatory practices against the Chinese nation.

“Resorting to import duty warnings is not the correct approach to deal with China,” the official commented.

“The nation’s view” on a tariff war has always been consistent: we are not seeking one, but we are not afraid of one.”

Last week, China revealed it was reinforcing foreign shipment restrictions on rare earths and other materials essential to high-technology production.

This was seen as a key move, as the nation processes about the vast majority of the world’s rare earths, which are employed in goods such as renewable energy components and mobile phones.

The recent comments from the US and China are being interpreted by observers as a method of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a meeting between Trump and Xi Jinping, planned at a conference in the Republic of Korea in the coming weeks, will go ahead.