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Donald Trump’s newest warning to enforce an extra 100% tariff on products from China has been labeled a “prime illustration” of US double standards, per the Beijing administration.

A official from China’s Commerce Ministry additionally remarked that China could implement its own undisclosed “responsive actions” if the White House occupant carries out his pledge, adding that the country was “fearless” of a looming trade conflict.

On Friday, Trump responded at the Chinese government’s action to reinforce its regulations for overseas sales of critical elements, charging China of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he warned to pull out of a planned meeting with China’s President Xi Jinping, which was expected to take place during a summit in the Republic of Korea later this month.

His statements on Friday unsettled financial markets, with the S&P 500 falling by over two and a half percent, marking its steepest fall since April.

The president’s words renewed apprehensions of a commercial dispute between the two economic giants.

Earlier this year, the both nations had reached an agreement to drop triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two nations.

Consequently, American import duties on products from China incurring an extra 30% levy compared with the year’s onset, while US goods entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – published by the relevant government department in the format of written responses to press queries – echoed rhetoric from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while justifying the country’s own export controls on key elements as “standard procedures” to protect domestic safety and that of every country.

Their representative remarked that for “an extended period”, the United States had “expanded the interpretation” of domestic safety, abused foreign shipment regulations and “adopted discriminatory practices against China.

“Using” trade levy ultimatums is not the correct approach to interact with the Chinese government,” their representative commented.

“China’s position on a trade conflict has consistently been consistent: we do not want one, but we are unafraid of one.”

The previous week, Beijing declared it was reinforcing foreign shipment restrictions on rare earths and other materials critical for advanced tech manufacturing.

This move was regarded as a important measure, as the state handles about 90% of the world’s rare earths, which are utilized in goods such as photovoltaic modules and handheld devices.

New remarks from Washington and Beijing are being interpreted by some as a means of enhancing bargaining power ahead of upcoming negotiations.

Is not yet known whether a meeting between Trump and President Xi, scheduled at a high-level meeting in the Republic of Korea before month’s end, will still proceed.