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Donald Trump’s newest ultimatum to impose an extra complete levy on Chinese goods has been called a “classic case” of US double standards, as stated by the Chinese government.

A representative of the ministry also stated that Beijing could implement its own undisclosed “retaliatory steps” if the White House occupant follows through on his pledge, emphasizing that the country was “not afraid” of a looming trade conflict.

On Friday, Trump retaliated at Beijing’s move to reinforce its rules for foreign shipments of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the international market “under its control”.

He also vowed to pull out of a scheduled talks with Beijing’s head of state Xi, which was expected to take place during a meeting in the Republic of Korea later this month.

His statements on that day unsettled financial markets, with the S&P 500 closing down nearly three percent, marking its largest decline since April.

His comments revived concerns of a trade conflict between the two economic giants.

Earlier this year, the respective governments had agreed to remove significant levies on each other’s products, which had raised the prospect of trade halting between the economic powers.

This left, US tariffs on Chinese goods facing an additional import tax compared with the start of the year, while US goods entering the Chinese market face a import levy.

China’s latest remarks – released by the Commerce Ministry in the form of official answers to media inquiries – mirrored rhetoric from the zenith of the latest commercial tensions.

Officials denounced American limits on exports on electronic components while supporting China’s own restrictions on exports on rare earth minerals as “normal actions” to ensure national security and that of every country.

The spokesperson stated that for “many years”, the United States had “overstretched the concept of national security, abused export control measures and “implemented” unfair treatments against the Chinese nation.

“Using” import duty warnings is not the proper method to interact with the Chinese government,” the spokesperson stated.

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

The previous week, the Chinese government announced it was strengthening export controls on rare earths and other materials essential to cutting-edge industry.

The action was viewed as a key move, as the nation refines about ninety percent of the world’s rare earths, which are utilized in products such as photovoltaic modules and smartphones.

New remarks from the US and China are being seen by analysts as a method of strengthening positions in preparation for forthcoming discussions.

Remains uncertain whether a talks between Trump and President Xi, expected at a conference in South Korea later this month, will still proceed.