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Trump’s latest ultimatum to enforce an additional complete levy on items imported from China has been described as a “prime illustration” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry further commented that the nation could implement its own unrevealed “responsive actions” if the White House occupant executes his threat, noting that the country was “fearless” of a looming commercial battle.

Last Friday, Trump responded at Beijing’s move to tighten its policies for foreign shipments of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the international market “hostage”.

Additionally, he warned to withdraw from a arranged summit with Chinese leader President Xi, which was arranged for a summit in Seoul in the coming weeks.

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

These statements renewed apprehensions of a commercial dispute between the US and China.

Earlier this year, the respective governments had reached an agreement to eliminate triple-digit tariffs on each other’s products, which had created the possibility of trade halting between the economic powers.

As a result, US tariffs on Chinese imports facing an additional 30% levy compared with the start of the year, while items from the United States entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – published by the Ministry of Commerce in the format of formal replies to media inquiries – reflected rhetoric from the peak of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own export controls on rare earths as “routine measures” to safeguard state interests and that of every country.

The official said that for “many years”, the United States had “overstretched the concept of national security, misused export control measures and “enforced” unfair treatments against Beijing.

“Using” tariff threats is not the correct approach to interact with Beijing,” the official said.

“Beijing’s stance” on a tariff war has always been consistent: we do not want one, but we are unafraid of one.”

Last week, Beijing declared it was tightening foreign shipment restrictions on rare earths and further resources essential to advanced tech manufacturing.

The action was viewed as a important measure, as the country processes about the vast majority of the global rare earth supply, which are utilized in items such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by observers as a means of strengthening positions ahead of upcoming negotiations.

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