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Donald Trump’s newest threat to enforce an additional complete levy on Chinese goods has been labeled a “prime illustration” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson also stated that China could enact its own undisclosed “countermeasures” if the US President carries out his warning, emphasizing that the country was “not afraid” of a potential trade war.

Last Friday, Donald Trump responded at Beijing’s move to tighten its policies for exports of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “under its control”.

He also warned to withdraw from a arranged summit with Beijing’s head of state Xi Jinping, which was expected to take place during a conference in the Republic of Korea before the month ends.

The former president’s remarks on last Friday shook financial markets, with the S&P 500 falling by 2.7%, marking its largest decline since last spring.

His comments reignited apprehensions of a trade war between the two economic giants.

In May, the both nations had consented to eliminate triple-digit tariffs on each other’s products, which had led to concerns of trade halting between the economic powers.

Consequently, American import duties on Chinese goods incurring an additional import tax compared with the year’s onset, while American products entering the Chinese market are subject to a 10% tariff.

The most recent comments from China – published by the relevant government department in the manner of official answers to journalist’s questions – echoed language from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on electronic components while supporting Beijing’s restrictions on exports on key elements as “standard procedures” to ensure national security and that of every country.

The spokesperson said that for “a long time”, the United States had “overstretched the concept of state security, abused overseas sale restrictions and “adopted biased policies against China.

“Resorting to trade levy ultimatums is not the correct approach to deal with China,” the spokesperson said.

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

Recently, the Chinese government revealed it was strengthening foreign shipment restrictions on rare earth minerals and further resources critical for high-technology production.

The action was viewed as a important measure, as the country handles about 90% of the world’s rare earths, which are used in products such as renewable energy components and handheld devices.

The recent comments from both governments are being viewed by some as a method of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a summit between Donald Trump and Xi Jinping, expected at a summit in the Republic of Korea in the coming weeks, will take place as planned.