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The former US president’s newest ultimatum to enforce an further 100% tariff on Chinese goods has been called a “prime illustration” of US double standards, according to the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could implement its own unspecified “responsive actions” if the US President follows through on his pledge, adding that the country was “fearless” of a possible trade war.

On Friday, Trump hit back at the Chinese government’s action to strengthen its regulations for exports of rare earth minerals, accusing China of “becoming very hostile” and attempting to hold the global community “under its control”.

Furthermore, he warned to pull out of a scheduled talks with Chinese leader President Xi, which was set for a meeting in the Republic of Korea later this month.

Trump’s comments on last Friday unsettled stock exchanges, with the S&P 500 share index dropping 2.7%, marking its steepest fall since earlier this year.

These statements revived fears of a trade conflict between the two economic giants.

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

As a result, United States levies on products from China facing an added 30% levy compared with the start of the year, while American products entering the country face a import levy.

The most recent comments from China – released by the Commerce Ministry in the manner of formal replies to journalist’s questions – reflected language from the peak of the recent trade conflict.

They criticised United States controls on semiconductors and chips while justifying China’s own restrictions on exports on rare earths as “normal actions” to ensure domestic safety and that of all nations.

The spokesperson stated that for “a long time”, the United States had “expanded the interpretation” of state security, abused overseas sale restrictions and “enforced” biased policies against China.

“Resorting to import duty warnings is not the right way to engage with China,” their representative commented.

“The nation’s view” on a import duty dispute has consistently been consistent: we do not want one, but we are unafraid of one.”

Recently, the Chinese government declared it was reinforcing foreign shipment restrictions on rare earth minerals and further resources critical for cutting-edge industry.

The action was viewed as a key move, as the country refines about the vast majority of the global rare earth supply, which are employed in goods such as photovoltaic modules and mobile phones.

Latest statements from Washington and Beijing are being seen by some as a strategy of bolstering negotiating stances ahead of future trade talks.

Is not yet known whether a summit between Trump and Xi Jinping, scheduled at a conference in South Korea before month’s end, will go ahead.