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Trump’s latest ultimatum to impose an additional complete levy on Chinese goods has been called a “typical example” of US double standards, according to the Beijing administration.

A Commerce Ministry spokesperson further commented that Beijing could enact its own undisclosed “countermeasures” if the US President executes his pledge, adding that the country was “fearless” of a possible trade war.

Last Friday, Trump responded at China’s decision to strengthen its policies for foreign shipments of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also vowed to cancel a arranged meeting with Beijing’s head of state Xi, which was set for a conference in the Republic of Korea before the month ends.

His statements on that day rattled stock exchanges, with the S&P 500 closing down 2.7%, marking its biggest drop since earlier this year.

These statements revived fears of a trade war between the United States and China.

Earlier this year, the both nations had consented to remove high import duties on each other’s products, which had led to concerns of trade halting between the two nations.

As a result, US tariffs on products from China subject to an additional 30% levy compared with the year’s onset, while items from the United States entering China are subject to a 10% tariff.

Beijing’s recent statements – released by the relevant government department in the format of written responses to journalist’s questions – mirrored language from the zenith of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while defending the country’s own overseas sale regulations on rare earth minerals as “routine measures” to protect domestic safety and that of the global community.

The spokesperson remarked that for “many years”, the America had “overstretched the concept of state security, exploited export control measures and “enforced” discriminatory practices against the Chinese nation.

“Using” tariff threats is not the right way to interact with Beijing,” their representative stated.

“Beijing’s stance” on a tariff war has remained unchanging: we do not want one, but we are fearless of one.”

Last week, Beijing declared it was strengthening overseas sale regulations on key elements and further resources vital for high-technology production.

This move was regarded as a significant step, as the country processes about the vast majority of the world’s rare earths, which are employed in products such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by analysts as a means of bolstering negotiating stances in preparation for future trade talks.

Remains uncertain whether a meeting between the former president and China’s leader, expected at a high-level meeting in the Republic of Korea before month’s end, will go ahead.