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Donald Trump’s latest ultimatum to impose an extra 100% tariff on products from China has been called a “classic case” of US double standards, as stated by the China’s leadership.

A Commerce Ministry spokesperson further commented that Beijing could enact its own unspecified “retaliatory steps” if the White House occupant carries out his warning, emphasizing that the country was “not afraid” of a possible commercial battle.

This past Friday, Donald Trump retaliated at China’s decision to tighten its regulations for foreign shipments of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the world “hostage”.

Furthermore, he threatened to withdraw from a arranged talks with Chinese leader Xi, which was arranged for a conference in Seoul before the month ends.

Trump’s comments on Friday shook global markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since earlier this year.

His comments renewed apprehensions of a trade conflict between the US and China.

Earlier this year, the both nations had consented to remove triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

As a result, United States levies on Chinese goods subject to an added 30% levy compared with the year’s onset, while US goods entering China face a import levy.

The most recent comments from China – issued by the Ministry of Commerce in the format of written responses to press queries – echoed rhetoric from the height of the ongoing trade dispute.

The remarks condemned United States controls on semiconductors and chips while justifying Beijing’s overseas sale regulations on rare earths as “routine measures” to ensure domestic safety and that of the global community.

The spokesperson said that for “many years”, the US had “overstretched the concept of national security, misused overseas sale restrictions and “adopted unfair treatments against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to deal with Beijing,” the spokesperson commented.

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

The previous week, China announced it was tightening export controls on rare earths and further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the state refines about the vast majority of the global rare earth supply, which are employed in items such as renewable energy components and handheld devices.

New remarks from both governments are being viewed by some as a means of bolstering negotiating stances in preparation for forthcoming discussions.

Remains uncertain whether a summit between Trump and Xi Jinping, planned at a conference in the Republic of Korea in the coming weeks, will go ahead.