China has condemned Donald Trump's recent threat to impose an additional 100% tariff on Chinese imports, calling it "a typical example of US double standards", according to a statement from the country's Commerce Ministry.

A ministry spokesperson warned that China could introduce its own unspecified "countermeasures" if the US follows through, asserting that it was "not afraid" of a potential trade war. The official added that "resorting to tariff threats is not the right way to engage with China" and reaffirmed, "China's position on a tariff war has always been consistent: we do not want one, but we are not afraid of one."

The spokesperson also accused Washington of consistently abusing its trade powers. For "a long time", the US had "overstretched the concept of national security, abused export control measures" and "adopted discriminatory practices against China".

Beijing's latest remarks, presented in a written response to journalists' questions, echoed the rhetoric seen during the peak of the recent US-China trade tensions. China defended its own export controls on rare earth elements, describing them as "normal actions" to protect both national and global security. The US, meanwhile, has been criticised by Beijing for its restrictions on the export of semiconductors and other critical technologies.

Tensions escalated last week after China tightened regulations on rare earth exports, materials vital to the production of high-tech goods such as smartphones and solar panels. China processes roughly 90% of the world’s supply of these materials, making its move highly significant.

In response, Trump lashed out on Friday, accusing Beijing of becoming "very hostile" and attempting to hold the world "captive". He also suggested he might cancel a meeting with Chinese President Xi Jinping, which had been expected to take place later this month.

Financial markets reacted sharply to the renewed threats, with the S&P 500 index falling 2.7% on Friday — its steepest one-day drop since April — amid rising fears of another trade war between the world’s two largest economies.

Back in May, both countries had agreed to suspend the imposition of triple-digit tariffs, raising hopes that trade between them might stabilise. However, tariffs remained in place: US imports from China still faced an extra 30% levy compared to the start of the year, while Chinese tariffs on American goods stood at 10%.

With Trump’s latest remarks and Beijing’s firm responses, analysts suggest both sides may be positioning themselves ahead of future negotiations. Still, uncertainty surrounds the anticipated meeting between Trump and Xi, scheduled to occur during a summit in South Korea later this month.