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Trump’s newest warning to introduce an further full import duty on Chinese goods has been called a “prime illustration” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that the nation could introduce its own undisclosed “countermeasures” if the American leader executes his pledge, adding that the country was “unafraid” of a looming trade war.

On Friday, the former president retaliated at Beijing’s move to strengthen its policies for foreign shipments of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to pull out of a scheduled summit with Chinese leader Xi Jinping, which was set for a conference in the Republic of Korea before the month ends.

Trump’s comments on Friday unsettled stock exchanges, with the S&P 500 share index falling by 2.7%, marking its largest decline since April.

His comments renewed concerns of a trade conflict between the United States and China.

Earlier this year, the two sides had agreed to remove significant levies on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

This left, American import duties on products from China facing an extra thirty percent tariff compared with the start of the year, while items from the United States entering China face a 10% tariff.

Beijing’s recent statements – issued by the Ministry of Commerce in the format of written responses to journalist’s questions – reflected terminology from the zenith of the ongoing trade dispute.

The remarks condemned US export restrictions on chips and semi-conductors while supporting Beijing’s restrictions on exports on key elements as “standard procedures” to protect state interests and that of every country.

Their representative remarked that for “a long time”, the US had “broadened the definition” of national security, exploited export control measures and “enforced” biased policies against Beijing.

“Turning to” tariff threats is not the correct approach to engage with Beijing,” the spokesperson said.

“China’s position on a import duty dispute has consistently been steady: we do not want one, but we are unafraid of one.”

Recently, Beijing revealed it was tightening overseas sale regulations on key elements and further resources critical for cutting-edge industry.

This was seen as a significant step, as the state refines about ninety percent of the world’s rare earths, which are used in goods such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by analysts as a strategy of bolstering negotiating stances in preparation for future trade talks.

It is unclear whether a talks between Trump and China’s leader, planned at a summit in South Korea before month’s end, will go ahead.