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Donald Trump’s latest ultimatum to impose an further 100% tariff on items imported from China has been labeled a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson further commented that China could introduce its own unspecified “countermeasures” if the US President executes his threat, adding that the country was “unafraid” of a looming trade conflict.

This past Friday, Trump retaliated at Beijing’s move to strengthen its rules for overseas sales of critical elements, alleging the Chinese leadership of “turning aggressive” and attempting to hold the world “under its control”.

He also warned to pull out of a arranged summit with China’s President President Xi, which was arranged for a meeting in Seoul later this month.

His statements on last Friday shook financial markets, with the S&P 500 share index closing down over two and a half percent, marking its largest decline since earlier this year.

His comments reignited apprehensions of a trade conflict between the United States and China.

This past spring, the respective governments had consented to remove significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the two countries.

This left, American import duties on Chinese imports incurring an extra import tax compared with the year’s onset, while American products entering China are subject to a import levy.

China’s latest remarks – published by the relevant government department in the format of official answers to press queries – reflected terminology from the peak of the latest commercial tensions.

Officials denounced American limits on exports on electronic components while justifying China’s own restrictions on exports on rare earth minerals as “normal actions” to safeguard state interests and that of every country.

Their representative stated that for “an extended period”, the America had “broadened the definition” of state security, misused overseas sale restrictions and “adopted biased policies against China.

“Turning to” import duty warnings is not the proper method to engage with China,” their representative stated.

“The nation’s view” on a tariff war has consistently been unchanging: we are not seeking one, but we are fearless of one.”

The previous week, China revealed it was tightening export controls on rare earths and other materials vital for advanced tech manufacturing.

The action was viewed as a important measure, as the country refines about the vast majority of the global rare earth supply, which are used in items such as photovoltaic modules and handheld devices.

New remarks from both governments are being viewed by analysts as a means of bolstering negotiating stances in preparation for forthcoming discussions.

It is unclear whether a talks between Trump and Xi Jinping, expected at a summit in Seoul later this month, will go ahead.