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Trump’s most recent ultimatum to impose an extra 100% tariff on Chinese goods has been called a “typical example” of US double standards, according to the Chinese government.

A Commerce Ministry spokesperson also stated that China could implement its own unspecified “countermeasures” if the White House occupant carries out his pledge, emphasizing that the country was “fearless” of a potential trade conflict.

Last Friday, Donald Trump responded at China’s decision to tighten its regulations for foreign shipments of critical elements, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also threatened to cancel a scheduled meeting with China’s President President Xi, which was arranged for a summit in the Republic of Korea later this month.

Trump’s comments on last Friday shook global markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since last spring.

His comments revived concerns of a trade war between the US and China.

This past spring, the two sides had consented to drop triple-digit tariffs on each other’s goods, which had led to concerns of bilateral trade stopping between the two nations.

As a result, American import duties on products from China facing an added 30% levy compared with the year’s onset, while US goods entering the Chinese market incur a ten percent duty.

China’s latest remarks – published by the Ministry of Commerce in the format of written responses to press queries – mirrored rhetoric from the height of the recent trade conflict.

Officials denounced American limits on exports on electronic components while defending the country’s own export controls on key elements as “routine measures” to protect state interests and that of the global community.

The official stated that for “a long time”, the America had “overstretched the concept of state security, misused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Resorting to tariff threats is not the correct approach to deal with Beijing,” the official commented.

“China’s position on a trade conflict has always been unchanging: we do not want one, but we are fearless of one.”

The previous week, the Chinese government declared it was strengthening overseas sale regulations on rare earth minerals and other materials essential to cutting-edge industry.

This move was regarded as a important measure, as the state handles about the vast majority of the world’s rare earths, which are employed in items such as solar panels and handheld devices.

Latest statements from both governments are being seen by analysts as a means of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a talks between Donald Trump and President Xi, planned at a high-level meeting in Seoul before month’s end, will take place as planned.