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The former US president’s latest ultimatum to introduce an extra full import duty on items imported from China has been labeled a “typical example” of US double standards, as stated by the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could introduce its own unrevealed “responsive actions” if the American leader carries out his pledge, noting that the country was “not afraid” of a potential trade conflict.

Last Friday, Trump responded at Beijing’s move to reinforce its policies for exports of rare earths, charging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a scheduled summit with Chinese leader President Xi, which was arranged for a summit in Seoul in the coming weeks.

The former president’s remarks on Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its steepest fall since last spring.

These statements reignited fears of a trade conflict between the United States and China.

In May, the two sides had consented to remove significant levies on each other’s imports, which had led to concerns of commerce ceasing between the two countries.

Consequently, American import duties on Chinese goods facing an additional 30% levy compared with the start of the year, while American products entering the Chinese market incur a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the format of written responses to journalist’s questions – reflected rhetoric from the peak of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while defending China’s own overseas sale regulations on key elements as “normal actions” to protect domestic safety and that of the global community.

Their representative remarked that for “a long time”, the US had “overstretched the concept of national security, abused export control measures and “enforced” unfair treatments against the Chinese nation.

“Using” import duty warnings is not the right way to engage with Beijing,” the spokesperson said.

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

Recently, the Chinese government declared it was reinforcing foreign shipment restrictions on key elements and further resources critical for cutting-edge industry.

This move was regarded as a important measure, as the state processes about the vast majority of the global rare earth supply, which are utilized in items such as photovoltaic modules and handheld devices.

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

Is not yet known whether a meeting between Donald Trump and Xi Jinping, expected at a summit in South Korea later this month, will take place as planned.