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Donald Trump’s newest threat to enforce an extra full import duty on Chinese goods has been labeled a “classic case” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry also stated that Beijing could enact its own undisclosed “retaliatory steps” if the US President follows through on his warning, emphasizing that the country was “fearless” of a possible trade conflict.

Last Friday, Trump hit back at Beijing’s move to reinforce its policies for overseas sales of rare earth minerals, accusing the Chinese leadership of “turning aggressive” and attempting to hold the world “under its control”.

Additionally, he threatened to cancel a arranged summit with Beijing’s head of state Xi, which was arranged for a conference in Seoul before the month ends.

His statements on last Friday rattled stock exchanges, with the S&P 500 dropping 2.7%, marking its largest decline since last spring.

The president’s words revived concerns of a trade conflict between the two economic giants.

In May, the both nations had consented to remove triple-digit tariffs on each other’s products, which had created the possibility of trade halting between the two nations.

Consequently, United States levies on Chinese imports facing an added import tax compared with the start of the year, while American products entering China face a ten percent duty.

China’s latest remarks – published by the Ministry of Commerce in the format of written responses to journalist’s questions – reflected language from the peak of the recent trade conflict.

They criticised US export restrictions on semiconductors and chips while justifying the country’s own overseas sale regulations on rare earth minerals as “routine measures” to ensure domestic safety and that of the global community.

The spokesperson stated that for “an extended period”, the US had “broadened the definition” of domestic safety, abused export control measures and “implemented” biased policies against China.

“Using” import duty warnings is not the right way to deal with Beijing,” the official said.

“Beijing’s stance” on a trade conflict has remained unchanging: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government revealed it was reinforcing export controls on rare earths and other materials critical for advanced tech manufacturing.

This was seen as a key move, as the country handles about the vast majority of the world’s rare earths, which are used in items such as renewable energy components and handheld devices.

New remarks from Washington and Beijing are being seen by analysts as a means of bolstering negotiating stances prior to upcoming negotiations.

Remains uncertain whether a summit between Donald Trump and President Xi, scheduled at a summit in South Korea in the coming weeks, will still proceed.