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Donald Trump’s newest threat to introduce an extra 100% tariff on Chinese goods has been called a “typical example” of US double standards, according to the Beijing administration.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unrevealed “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “unafraid” of a possible trade war.

On Friday, the former president hit back at the Chinese government’s action to strengthen its rules for overseas sales of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Furthermore, he threatened to withdraw from a planned summit with Beijing’s head of state Xi, which was set for a conference in South Korea later this month.

The former president’s remarks on that day unsettled financial markets, with the S&P 500 dropping over two and a half percent, marking its steepest fall since April.

These statements reignited concerns of a trade war between the two economic giants.

Earlier this year, the two sides had consented to drop significant levies on each other’s imports, which had led to concerns of trade halting between the economic powers.

Consequently, United States levies on Chinese goods incurring an additional 30% levy compared with the start of the year, while American products entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – issued by the relevant government department in the format of written responses to journalist’s questions – reflected language from the peak of the ongoing trade dispute.

They criticised US export restrictions on electronic components while justifying China’s own overseas sale regulations on key elements as “routine measures” to protect domestic safety and that of the global community.

The official remarked that for “many years”, the America had “expanded the interpretation” of state security, abused overseas sale restrictions and “adopted unfair treatments against China.

“Resorting to tariff threats is not the right way to interact with the Chinese government,” their representative said.

“Beijing’s stance” on a tariff war has remained steady: we do not want one, but we are fearless of one.”

Last week, Beijing announced it was strengthening overseas sale regulations on rare earth minerals and further resources essential to advanced tech manufacturing.

The action was viewed as a significant step, as the country processes about 90% of the global rare earth supply, which are used in goods such as renewable energy components and mobile phones.

Latest statements from both governments are being viewed by some as a means of strengthening positions prior to upcoming negotiations.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea before month’s end, will take place as planned.