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Trump’s newest warning to impose an additional 100% tariff on items imported from China has been described as a “classic case” of US double standards, according to the Chinese government.

A official from China’s Commerce Ministry also stated that the nation could introduce its own undisclosed “retaliatory steps” if the White House occupant follows through on his threat, adding that the country was “unafraid” of a looming trade conflict.

Last Friday, Donald Trump retaliated at Beijing’s move to reinforce its regulations for exports of rare earths, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also threatened to withdraw from a planned summit with Chinese leader Xi, which was arranged for a conference in Seoul later this month.

Trump’s comments on Friday shook stock exchanges, with the benchmark US stock index dropping nearly three percent, marking its biggest drop since last spring.

The president’s words renewed apprehensions of a commercial dispute between the US and China.

This past spring, the respective governments had reached an agreement to eliminate high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

As a result, United States levies on Chinese imports subject to an extra 30% levy compared with the start of the year, while items from the United States entering the Chinese market face a ten percent duty.

The most recent comments from China – issued by the Ministry of Commerce in the manner of official answers to press queries – echoed terminology from the height of the latest commercial tensions.

They criticised American limits on exports on electronic components while supporting China’s own export controls on rare earth minerals as “normal actions” to protect state interests and that of all nations.

The official remarked that for “a long time”, the US had “overstretched the concept of domestic safety, misused export control measures and “adopted unfair treatments against Beijing.

“Resorting to tariff threats is not the right way to deal with the Chinese government,” the spokesperson said.

“The nation’s view” on a import duty dispute has always been unchanging: we wish to avoid one, but we are not afraid of one.”

Last week, Beijing declared it was tightening foreign shipment restrictions on rare earth minerals and further resources vital for advanced tech manufacturing.

This was seen as a important measure, as the state handles about 90% of the global rare earth supply, which are used in products such as solar panels and mobile phones.

New remarks from the US and China are being viewed by observers as a method of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a summit between Trump and President Xi, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will go ahead.