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Donald Trump’s latest warning to enforce an further complete levy on Chinese goods has been described as a “classic case” of US double standards, as stated by the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could implement its own unspecified “countermeasures” if the American leader executes his warning, adding that the country was “fearless” of a possible trade war.

On Friday, the former president responded at the Chinese government’s action to reinforce its regulations for foreign shipments of rare earths, charging Beijing of “turning aggressive” and attempting to hold the international market “hostage”.

Additionally, he vowed to cancel a arranged meeting with China’s President Xi, which was set for a conference in Seoul in the coming weeks.

His statements on last Friday unsettled financial markets, with the benchmark US stock index closing down nearly three percent, marking its largest decline since earlier this year.

The president’s words renewed apprehensions of a trade war between the US and China.

In May, the two sides had reached an agreement to remove triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two nations.

As a result, United States levies on Chinese goods subject to an added import tax compared with the start of the year, while items from the United States entering the country are subject to a ten percent duty.

China’s latest remarks – issued by the Commerce Ministry in the form of formal replies to media inquiries – echoed language from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on electronic components while justifying China’s own export controls on rare earth minerals as “standard procedures” to protect national security and that of every country.

The official stated that for “many years”, the United States had “broadened the definition” of national security, abused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Turning to” tariff threats is not the correct approach to deal with the Chinese government,” their representative stated.

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

Last week, the Chinese government announced it was reinforcing export controls on key elements and further resources critical for high-technology production.

The action was viewed as a significant step, as the nation handles about ninety percent of the global rare earth supply, which are employed in products such as photovoltaic modules and handheld devices.

Latest statements from both governments are being interpreted by some as a means of enhancing bargaining power in preparation for forthcoming discussions.

Is not yet known whether a meeting between Trump and China’s leader, scheduled at a conference in South Korea later this month, will take place as planned.