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Donald Trump’s latest threat to enforce an additional complete levy on products from China has been described as a “typical example” of US double standards, according to the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that Beijing could enact its own unrevealed “retaliatory steps” if the American leader executes his pledge, emphasizing that the country was “not afraid” of a potential trade war.

On Friday, Donald Trump hit back at China’s decision to reinforce its rules for overseas sales of rare earth minerals, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

Additionally, he warned to pull out of a planned talks with China’s President President Xi, which was set for a summit in South Korea in the coming weeks.

Trump’s comments on last Friday unsettled stock exchanges, with the benchmark US stock index dropping over two and a half percent, marking its steepest fall since April.

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

This past spring, the both nations had consented to remove triple-digit tariffs on each other’s imports, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, US tariffs on products from China incurring an extra thirty percent tariff compared with the start of the year, while American products entering the country incur a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the manner of written responses to journalist’s questions – echoed rhetoric from the zenith of the latest commercial tensions.

Officials denounced US export restrictions on chips and semi-conductors while justifying Beijing’s export controls on key elements as “standard procedures” to protect domestic safety and that of all nations.

Their representative stated that for “a long time”, the US had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” discriminatory practices against Beijing.

“Resorting to tariff threats is not the correct approach to engage with the Chinese government,” their representative said.

“Beijing’s stance” on a import duty dispute has always been unchanging: we do not want one, but we are not afraid of one.”

Last week, Beijing announced it was reinforcing overseas sale regulations on rare earths and further resources essential to cutting-edge industry.

This move was regarded as a key move, as the state processes about ninety percent of the planet’s critical minerals, which are used in items such as renewable energy components and handheld devices.

The recent comments from the US and China are being interpreted by observers as a method of bolstering negotiating stances ahead of upcoming negotiations.

Remains uncertain whether a talks between Donald Trump and President Xi, expected at a high-level meeting in Seoul before month’s end, will still proceed.