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The former US president’s newest threat to impose an extra complete levy on items imported from China has been called 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 unrevealed “countermeasures” if the US President follows through on his threat, noting that the country was “unafraid” of a possible trade conflict.

On Friday, Trump hit back at China’s decision to strengthen its policies for foreign shipments of rare earth minerals, accusing Beijing of “becoming very hostile” and attempting to hold the international market “hostage”.

He also vowed to pull out of a scheduled summit with Chinese leader Xi, which was arranged for a conference in the Republic of Korea before the month ends.

His statements on last Friday unsettled global markets, with the S&P 500 share index falling by nearly three percent, marking its largest decline since earlier this year.

The president’s words revived concerns of a trade conflict between the US and China.

In May, the two sides had reached an agreement to eliminate significant levies on each other’s products, which had created the possibility of trade halting between the two countries.

As a result, United States levies on Chinese goods incurring an additional import tax compared with the year’s onset, while US goods entering China are subject to a 10% tariff.

Beijing’s recent statements – released by the relevant government department in the manner of written responses to press queries – mirrored language from the height of the latest commercial tensions.

They criticised United States controls on semiconductors and chips while justifying Beijing’s overseas sale regulations on rare earth minerals as “routine measures” to safeguard state interests and that of every country.

The spokesperson remarked that for “a long time”, the US had “expanded the interpretation” of national security, exploited overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Turning to” import duty warnings is not the proper method to engage with Beijing,” the spokesperson commented.

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

Recently, the Chinese government revealed it was tightening export controls on key elements and other materials critical for high-technology production.

This was seen as a key move, as the state processes about 90% of the global rare earth supply, which are utilized in items such as renewable energy components and smartphones.

New remarks from the US and China are being viewed by analysts as a means of enhancing bargaining power prior to upcoming negotiations.

Remains uncertain whether a talks between Trump and Xi Jinping, scheduled at a summit in Seoul later this month, will take place as planned.