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Donald Trump’s latest threat to enforce an additional 100% tariff on products from China has been labeled a “typical example” of US double standards, per the Beijing administration.

A official from China’s Commerce Ministry further commented that the nation could introduce its own unspecified “retaliatory steps” if the White House occupant follows through on his pledge, emphasizing that the country was “not afraid” of a looming trade conflict.

This past Friday, Trump hit back at China’s decision to strengthen its regulations for exports of critical elements, accusing Beijing of “turning aggressive” and attempting to hold the world “under its control”.

Furthermore, he vowed to cancel a scheduled meeting with Chinese leader Xi, which was expected to take place during a summit in South Korea later this month.

Trump’s comments on Friday rattled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its largest decline since April.

The president’s words renewed apprehensions of a commercial dispute between the two economic giants.

In May, the two sides had reached an agreement to remove triple-digit tariffs on each other’s imports, which had raised the prospect of commerce ceasing between the two countries.

As a result, American import duties on Chinese imports subject to an additional 30% levy compared with the year’s onset, while US goods entering China incur a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of official answers to journalist’s questions – echoed rhetoric from the peak of the latest commercial tensions.

Officials denounced United States controls on chips and semi-conductors while justifying Beijing’s overseas sale regulations on rare earth minerals as “standard procedures” to ensure national security and that of all nations.

The spokesperson stated that for “a long time”, the United States had “expanded the interpretation” of state security, misused export control measures and “implemented” biased policies against Beijing.

“Turning to” trade levy ultimatums is not the right way to engage with China,” their representative commented.

“China’s position on a tariff war has consistently been steady: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government declared it was tightening export controls on rare earths and additional substances vital for high-technology production.

The action was viewed as a significant step, as the country processes about the vast majority of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and smartphones.

Latest statements from both governments are being viewed by analysts as a means of enhancing bargaining power in preparation for future trade talks.

It is unclear whether a summit between Trump and President Xi, planned at a summit in South Korea before month’s end, will go ahead.