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Donald Trump’s newest warning to impose an further complete levy on items imported from China has been described as a “typical example” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that China could enact its own unrevealed “countermeasures” if the US President follows through on his threat, adding that the country was “fearless” of a potential trade conflict.

This past Friday, Donald Trump retaliated at Beijing’s move to reinforce its regulations for exports of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “under its control”.

He also warned to withdraw from a arranged summit with Beijing’s head of state Xi Jinping, which was set for a conference in South Korea before the month ends.

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

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

This past spring, the two sides had reached an agreement to drop triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the economic powers.

As a result, United States levies on Chinese imports subject to an additional import tax compared with the start of the year, while US goods entering China incur a import levy.

China’s latest remarks – released by the relevant government department in the format of official answers to journalist’s questions – mirrored rhetoric from the zenith of the recent trade conflict.

Officials denounced US export restrictions on electronic components while defending the country’s own export controls on key elements as “routine measures” to ensure domestic safety and that of the global community.

Their representative remarked that for “a long time”, the America had “expanded the interpretation” of state security, abused overseas sale restrictions and “adopted unfair treatments against the Chinese nation.

“Turning to” tariff threats is not the proper method to engage with China,” their representative stated.

“Beijing’s stance” on a trade conflict has remained consistent: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing revealed it was strengthening overseas sale regulations on key elements and other materials vital for cutting-edge industry.

The action was viewed as a important measure, as the state refines about 90% of the world’s rare earths, which are utilized in products such as renewable energy components and mobile phones.

Latest statements from both governments are being interpreted by observers as a strategy of enhancing bargaining power in preparation for upcoming negotiations.

Is not yet known whether a talks between the former president and President Xi, scheduled at a high-level meeting in the Republic of Korea before month’s end, will take place as planned.