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Trump’s newest warning to impose an extra full import duty on items imported from China has been described as a “typical example” of US double standards, according to the China’s leadership.

A representative of the ministry further commented that China could introduce its own unspecified “retaliatory steps” if the American leader executes his pledge, noting that the country was “fearless” of a looming trade war.

Last Friday, Trump hit back at Beijing’s move to reinforce its policies for exports of rare earths, alleging Beijing of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he vowed to pull out of a scheduled talks with Chinese leader Xi, which was set for a conference in Seoul in the coming weeks.

His statements on last Friday unsettled stock exchanges, with the S&P 500 share index closing down over two and a half percent, marking its steepest fall since April.

His comments revived concerns of a commercial dispute between the US and China.

This past spring, 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 economic powers.

Consequently, US tariffs on Chinese imports facing an extra 30% levy compared with the year’s onset, while US goods entering China incur a import levy.

Beijing’s recent statements – issued by the relevant government department in the form of written responses to media inquiries – mirrored rhetoric from the peak of the ongoing trade dispute.

They criticised American limits on exports on electronic components while defending Beijing’s restrictions on exports on rare earths as “routine measures” to ensure domestic safety and that of every country.

Their representative said that for “an extended period”, the US had “broadened the definition” of domestic safety, abused overseas sale restrictions and “implemented” unfair treatments against China.

“Turning to” import duty warnings is not the correct approach to interact with Beijing,” the spokesperson commented.

“Beijing’s stance” on a tariff war has remained unchanging: we are not seeking one, but we are fearless of one.”

Recently, Beijing announced it was tightening overseas sale regulations on key elements and other materials essential to high-technology production.

This move was regarded as a key move, as the country handles about ninety percent of the global rare earth supply, which are used in goods such as renewable energy components and mobile phones.

The recent comments from both governments are being interpreted by observers as a means of strengthening positions in preparation for future trade talks.

Remains uncertain whether a talks between Trump and President Xi, expected at a summit in South Korea before month’s end, will take place as planned.