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The former US president’s latest ultimatum to impose an additional complete levy on items imported from China has been labeled a “classic case” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that Beijing could implement its own unspecified “countermeasures” if the US President executes his warning, emphasizing that the country was “fearless” of a looming trade conflict.

This past Friday, Trump hit back at the Chinese government’s action to reinforce its regulations for exports of rare earth minerals, alleging the Chinese leadership of “turning aggressive” and attempting to hold the global community “captive”.

He also threatened to withdraw from a scheduled summit with Chinese leader Xi Jinping, which was set for a meeting in the Republic of Korea in the coming weeks.

Trump’s comments on Friday rattled financial markets, with the S&P 500 falling by over two and a half percent, marking its largest decline since April.

The president’s words reignited fears of a trade conflict between the US and China.

Earlier this year, the respective governments had reached an agreement to drop triple-digit tariffs on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

This left, United States levies on Chinese imports facing an additional thirty percent tariff compared with the year’s onset, while US goods entering the country face a 10% tariff.

Beijing’s recent statements – released by the relevant government department in the format of official answers to press queries – echoed terminology from the height of the ongoing trade dispute.

They criticised American limits on exports on chips and semi-conductors while justifying China’s own export controls on key elements as “routine measures” to safeguard national security and that of the global community.

The spokesperson remarked that for “a long time”, the US had “broadened the definition” of domestic safety, exploited foreign shipment regulations and “adopted biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the proper method to engage with Beijing,” the spokesperson stated.

“The nation’s view” on a tariff war has consistently been unchanging: we do not want one, but we are fearless of one.”

The previous week, Beijing announced it was tightening foreign shipment restrictions on rare earth minerals and other materials essential to cutting-edge industry.

This was seen as a significant step, as the nation refines about 90% of the global rare earth supply, which are utilized in goods such as photovoltaic modules and handheld devices.

The recent comments from both governments are being viewed by observers as a method of bolstering negotiating stances ahead of forthcoming discussions.

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