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Donald Trump’s latest threat to introduce an additional complete levy on products from China has been called a “typical example” of US double standards, according to the Chinese government.

A official from China’s Commerce Ministry additionally remarked that Beijing could introduce its own unrevealed “retaliatory steps” if the American leader follows through on his pledge, adding that the country was “fearless” of a potential commercial battle.

On Friday, the former president responded at Beijing’s move to reinforce its regulations for exports of critical elements, accusing Beijing of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Additionally, he warned to cancel a arranged meeting with Chinese leader Xi Jinping, which was set for a summit in the Republic of Korea in the coming weeks.

Trump’s comments on last Friday shook stock exchanges, with the S&P 500 closing down 2.7%, marking its largest decline since April.

His comments reignited apprehensions of a commercial dispute between the two economic giants.

In May, the both nations had reached an agreement to eliminate significant levies on each other’s imports, which had created the possibility of trade halting between the two countries.

This left, American import duties on products from China subject to an added import tax compared with the year’s onset, while US goods entering the Chinese market are subject to a import levy.

Beijing’s recent statements – issued by the relevant government department in the format of formal replies to press queries – mirrored rhetoric from the height of the latest commercial tensions.

They criticised United States controls on electronic components while justifying China’s own restrictions on exports on key elements as “routine measures” to protect national security and that of every country.

Their representative said that for “many years”, the US had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” unfair treatments against Beijing.

“Turning to” import duty warnings is not the correct approach to engage with China,” the spokesperson commented.

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

Recently, China announced it was tightening foreign shipment restrictions on key elements and additional substances vital for high-technology production.

The action was viewed as a significant step, as the state refines about ninety percent of the global rare earth supply, which are used in goods such as renewable energy components and smartphones.

New remarks from the US and China are being interpreted by analysts as a method of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a summit between Donald Trump and Xi Jinping, planned at a conference in the Republic of Korea later this month, will take place as planned.