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Donald Trump’s most recent warning to enforce an extra complete levy on products from China has been described as a “typical example” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could implement its own undisclosed “retaliatory steps” if the US President follows through on his threat, adding that the country was “fearless” of a looming commercial battle.

Last Friday, Donald Trump responded at China’s decision to strengthen its regulations for foreign shipments of rare earths, alleging Beijing of “becoming very hostile” and attempting to hold the global community “hostage”.

Furthermore, he vowed to pull out of a scheduled summit with Beijing’s head of state Xi, which was expected to take place during a summit in Seoul before the month ends.

Trump’s comments on last Friday shook financial markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since earlier this year.

His comments revived apprehensions of a commercial dispute between the United States and China.

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

Consequently, US tariffs on products from China subject to an extra 30% levy compared with the start of the year, while items from the United States entering China incur a ten percent duty.

The most recent comments from China – published by the Ministry of Commerce in the form of official answers to media inquiries – echoed terminology from the zenith of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while supporting China’s own overseas sale regulations on rare earth minerals as “standard procedures” to protect domestic safety and that of the global community.

The official stated that for “many years”, the United States had “broadened the definition” of national security, abused export control measures and “adopted biased policies against Beijing.

“Using” trade levy ultimatums is not the correct approach to deal with the Chinese government,” the official commented.

“China’s position on a import duty dispute has always been unchanging: we are not seeking one, but we are unafraid of one.”

Recently, Beijing declared it was strengthening overseas sale regulations on key elements and additional substances vital for cutting-edge industry.

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

Latest statements from Washington and Beijing are being viewed by analysts as a strategy of strengthening positions prior to upcoming negotiations.

Is not yet known whether a talks between Trump and China’s leader, scheduled at a summit in South Korea in the coming weeks, will take place as planned.