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Donald Trump’s latest warning to enforce an extra complete levy on Chinese goods has been labeled a “prime illustration” of US double standards, per the Beijing administration.

A representative of the ministry also stated that Beijing could enact its own unrevealed “countermeasures” if the White House occupant follows through on his pledge, noting that the country was “fearless” of a looming trade war.

Last Friday, the former president retaliated at China’s decision to tighten its regulations for foreign shipments of rare earth minerals, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also warned to withdraw from a planned talks with Chinese leader President Xi, which was set for a summit in Seoul in the coming weeks.

The former president’s remarks on last Friday rattled financial markets, with the benchmark US stock index closing down over two and a half percent, marking its biggest drop since earlier this year.

The president’s words reignited apprehensions of a trade war between the US and China.

Earlier this year, the two sides had reached an agreement to drop significant levies on each other’s goods, which had created the possibility of commerce ceasing between the two countries.

This left, US tariffs on Chinese imports subject to an extra 30% levy compared with the start of the year, while US goods entering the country face a 10% tariff.

Beijing’s recent statements – released by the relevant government department in the form of written responses to press queries – mirrored language from the height of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while supporting China’s own restrictions on exports on key elements as “standard procedures” to protect state interests and that of every country.

Their representative said that for “many years”, the America had “broadened the definition” of state security, exploited export control measures and “adopted unfair treatments against China.

“Resorting to tariff threats is not the right way to deal with Beijing,” the official stated.

“The nation’s view” on a tariff war has remained unchanging: we are not seeking one, but we are not afraid of one.”

Last week, the Chinese government revealed it was reinforcing overseas sale regulations on key elements and other materials critical for cutting-edge industry.

This was seen as a important measure, as the country refines about the vast majority of the world’s rare earths, which are employed in products such as photovoltaic modules and handheld devices.

Latest statements from both governments are being viewed by some as a method of bolstering negotiating stances prior to future trade talks.

Is not yet known whether a talks between Donald Trump and China’s leader, planned at a high-level meeting in the Republic of Korea in the coming weeks, will still proceed.