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Trump’s newest threat to introduce an extra 100% tariff on items imported from China has been called a “prime illustration” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that the nation could enact its own unrevealed “responsive actions” if the US President carries out his pledge, adding that the country was “fearless” of a potential commercial battle.

On Friday, the former president retaliated at Beijing’s move to strengthen its policies for exports of rare earths, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he warned to cancel a scheduled meeting with China’s President Xi Jinping, which was set for a conference in South Korea before the month ends.

The former president’s remarks on last Friday shook financial markets, with the S&P 500 closing down nearly three percent, marking its biggest drop since April.

His comments revived fears of a trade conflict between the two economic giants.

Earlier this year, the both nations had consented to drop triple-digit tariffs on each other’s imports, which had led to concerns of commerce ceasing between the two nations.

As a result, US tariffs on Chinese goods facing an additional import tax compared with the start of the year, while US goods entering China are subject to a import levy.

The most recent comments from China – published by the Commerce Ministry in the format of written responses to journalist’s questions – mirrored language from the peak of the recent trade conflict.

The remarks condemned US export restrictions on electronic components while justifying China’s own overseas sale regulations on rare earths as “routine measures” to safeguard state interests and that of all nations.

The spokesperson said that for “an extended period”, the America had “overstretched the concept of domestic safety, misused foreign shipment regulations and “enforced” discriminatory practices against China.

“Resorting to tariff threats is not the right way to interact with Beijing,” the spokesperson said.

“China’s position on a tariff war has always been unchanging: we wish to avoid one, but we are not afraid of one.”

Last week, the Chinese government announced it was tightening overseas sale regulations on rare earth minerals and further resources essential to cutting-edge industry.

The action was viewed as a key move, as the state processes about the vast majority of the world’s rare earths, which are used in items such as solar panels and mobile phones.

The recent comments from both governments are being viewed by analysts as a method of enhancing bargaining power ahead of forthcoming discussions.

It is unclear whether a talks between Donald Trump and China’s leader, scheduled at a conference in the Republic of Korea before month’s end, will still proceed.