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Donald Trump’s latest warning to impose an additional 100% tariff on Chinese goods has been labeled a “classic case” of US double standards, per the Beijing administration.

A representative of the ministry further commented that the nation could implement its own unspecified “countermeasures” if the American leader executes his pledge, noting that the country was “fearless” of a looming trade war.

On Friday, Donald Trump retaliated at the Chinese government’s action to strengthen its policies for overseas sales of critical elements, alleging Beijing of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also warned to cancel a scheduled summit with China’s President Xi, which was arranged for a conference in the Republic of Korea before the month ends.

The former president’s remarks on last Friday rattled stock exchanges, with the S&P 500 share index dropping nearly three percent, marking its largest decline since last spring.

His comments reignited fears of a trade war between the US and China.

Earlier this year, the respective governments had agreed to eliminate significant levies on each other’s goods, which had led to concerns of trade halting between the economic powers.

As a result, US tariffs on Chinese imports facing an extra 30% levy compared with the year’s onset, while American products entering China incur a ten percent duty.

China’s latest remarks – published by the Commerce Ministry in the form of official answers to journalist’s questions – mirrored rhetoric from the zenith of the latest commercial tensions.

The remarks condemned American limits on exports on electronic components while supporting the country’s own export controls on rare earth minerals as “normal actions” to safeguard national security and that of the global community.

The spokesperson remarked that for “many years”, the United States had “broadened the definition” of national security, abused overseas sale restrictions and “adopted unfair treatments against China.

“Turning to” import duty warnings is not the right way to deal with Beijing,” the official commented.

“China’s position on a trade conflict has always been consistent: we are not seeking one, but we are not afraid of one.”

The previous week, Beijing announced it was strengthening foreign shipment restrictions on rare earth minerals and additional substances essential to high-technology production.

This was seen as a significant step, as the state processes about 90% of the world’s rare earths, which are used in items such as photovoltaic modules and smartphones.

Latest statements from the US and China are being seen by analysts as a method of strengthening positions prior to forthcoming discussions.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, scheduled at a summit in the Republic of Korea before month’s end, will take place as planned.