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Donald Trump’s newest warning to impose an extra complete levy on products from China has been called a “typical example” of US double standards, according to the Chinese government.

A representative of the ministry further commented that the nation could introduce its own undisclosed “responsive actions” if the US President carries out his pledge, adding that the country was “unafraid” of a possible trade war.

On Friday, the former president responded at the Chinese government’s action to tighten its policies for overseas sales of rare earths, accusing China of “adopting a confrontational stance” and attempting to hold the world “under its control”.

Additionally, he threatened to cancel a scheduled talks with Chinese leader Xi, which was expected to take place during a conference in South Korea before the month ends.

The former president’s remarks on last Friday unsettled financial markets, with the benchmark US stock index falling by over two and a half percent, marking its largest decline since April.

The president’s words renewed concerns of a trade conflict between the US and China.

In May, the two sides had reached an agreement to remove high import duties on each other’s imports, which had created the possibility of bilateral trade stopping between the economic powers.

As a result, United States levies on Chinese imports incurring an additional import tax compared with the start of the year, while US goods entering the Chinese market incur a import levy.

China’s latest remarks – issued by the relevant government department in the form of official answers to press queries – echoed language from the zenith of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while justifying Beijing’s export controls on rare earth minerals as “normal actions” to protect state interests and that of the global community.

The official said that for “an extended period”, the United States had “broadened the definition” of state security, abused overseas sale restrictions and “adopted unfair treatments against China.

“Using” trade levy ultimatums is not the correct approach to engage with the Chinese government,” the official commented.

“Beijing’s stance” on a tariff war has consistently been consistent: we are not seeking one, but we are unafraid of one.”

Recently, China declared it was strengthening overseas sale regulations on key elements and further resources critical for high-technology production.

The action was viewed as a important measure, as the country refines about ninety percent of the global rare earth supply, which are used in items such as photovoltaic modules and smartphones.

Latest statements from both governments are being viewed by some as a means of enhancing bargaining power prior to future trade talks.

Is not yet known whether a summit between Trump and China’s leader, expected at a high-level meeting in South Korea later this month, will still proceed.