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Trump’s newest threat to introduce an additional full import duty on items imported from China has been called a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own unspecified “responsive actions” if the American leader executes his threat, emphasizing that the country was “fearless” of a possible trade war.

Last Friday, the former president hit back at China’s decision to tighten its rules for overseas sales of rare earth minerals, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the world “hostage”.

He also warned to cancel a planned talks with Chinese leader President Xi, which was arranged for a conference in the Republic of Korea later this month.

Trump’s comments on Friday shook global markets, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since last spring.

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

In May, the both nations had consented to eliminate high import duties on each other’s imports, which had led to concerns of bilateral trade stopping between the two nations.

As a result, United States levies on Chinese goods facing an additional import tax compared with the year’s onset, while American products entering the Chinese market incur a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the manner of official answers to media inquiries – mirrored language from the peak of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while defending the country’s own export controls on key elements as “standard procedures” to protect domestic safety and that of all nations.

The official remarked that for “a long time”, the US had “expanded the interpretation” of national security, abused export control measures and “implemented” biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to engage with Beijing,” the spokesperson said.

“Beijing’s stance” on a tariff war has always been unchanging: we do not want one, but we are not afraid of one.”

The previous week, China announced it was strengthening overseas sale regulations on key elements and additional substances critical for cutting-edge industry.

This was seen as a key move, as the nation refines about the vast majority of the planet’s critical minerals, which are used in items such as solar panels and smartphones.

New remarks from Washington and Beijing are being seen by some as a means of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a meeting between Donald Trump and Xi Jinping, scheduled at a summit in South Korea in the coming weeks, will take place as planned.