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Donald Trump’s most recent ultimatum to impose an extra complete levy on products from China has been called a “prime illustration” of US double standards, according to the China’s leadership.

A representative of the ministry additionally remarked that Beijing could enact its own unspecified “retaliatory steps” if the US President executes his pledge, noting that the country was “not afraid” of a looming trade war.

Last Friday, Trump hit back at China’s decision to tighten its rules for exports of rare earth minerals, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “under its control”.

Additionally, he warned to pull out of a arranged talks with China’s President Xi, which was arranged for a meeting in the Republic of Korea later this month.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 closing down 2.7%, marking its steepest fall since April.

The president’s words reignited concerns of a commercial dispute between the two economic giants.

In May, the respective governments had agreed to eliminate significant levies on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

This left, US tariffs on Chinese imports incurring an additional thirty percent tariff compared with the start of the year, while items from the United States entering the country face a import levy.

The most recent comments from China – released by the Commerce Ministry in the manner of written responses to journalist’s questions – echoed rhetoric from the peak of the recent trade conflict.

They criticised United States controls on semiconductors and chips while justifying Beijing’s export controls on rare earth minerals as “normal actions” to safeguard domestic safety and that of the global community.

The spokesperson stated that for “an extended period”, the America had “overstretched the concept of national security, abused foreign shipment regulations and “enforced” unfair treatments against China.

“Turning to” import duty warnings is not the correct approach to deal with China,” the spokesperson said.

“The nation’s view” on a import duty dispute has always been consistent: we do not want one, but we are fearless of one.”

Last week, Beijing declared it was strengthening overseas sale regulations on rare earths and other materials essential to cutting-edge industry.

This was seen as a significant step, as the state processes about the vast majority of the planet’s critical minerals, which are used in products such as photovoltaic modules and smartphones.

New remarks from both governments are being seen by observers as a means of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear whether a talks between the former president and President Xi, scheduled at a summit in South Korea in the coming weeks, will take place as planned.