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Trump’s newest threat to enforce an further full import duty on items imported from China has been labeled a “prime illustration” of US double standards, according to the China’s leadership.

A official from China’s Commerce Ministry further commented that China could enact its own unrevealed “responsive actions” if the White House occupant follows through on his pledge, emphasizing that the country was “fearless” of a potential trade conflict.

On Friday, Trump retaliated at China’s decision to strengthen its regulations for foreign shipments of rare earths, charging Beijing of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he warned to withdraw from a planned summit with China’s President Xi, which was expected to take place during a summit in the Republic of Korea before the month ends.

Trump’s comments on last Friday shook stock exchanges, with the S&P 500 closing down nearly three percent, marking its biggest drop since earlier this year.

These statements renewed fears of a commercial dispute between the two economic giants.

In May, the both nations had agreed to drop high import duties on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.

As a result, US tariffs on Chinese imports facing an additional 30% levy compared with the start of the year, while American products entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of formal replies to journalist’s questions – mirrored rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned United States controls on chips and semi-conductors while justifying China’s own restrictions on exports on key elements as “normal actions” to ensure state interests and that of the global community.

The spokesperson stated that for “many years”, the US had “overstretched the concept of national security, misused export control measures and “implemented” unfair treatments against Beijing.

“Resorting to import duty warnings is not the correct approach to interact with China,” the spokesperson said.

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

The previous week, Beijing declared it was reinforcing export controls on rare earth minerals and further resources vital for advanced tech manufacturing.

This was seen as a key move, as the country handles about the vast majority of the global rare earth supply, which are used in items such as solar panels and smartphones.

Latest statements from both governments are being seen by analysts as a means of bolstering negotiating stances ahead of future trade talks.

Remains uncertain whether a talks between Trump and Xi Jinping, planned at a high-level meeting in Seoul later this month, will go ahead.