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The former US president’s latest ultimatum to introduce an extra full import duty on products from China has been called a “typical example” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson also stated that China could introduce its own unspecified “retaliatory steps” if the US President executes his pledge, noting that the country was “not afraid” of a potential trade war.

Last Friday, Trump retaliated at the Chinese government’s action to tighten its rules for overseas sales of rare earths, accusing Beijing of “turning aggressive” and attempting to hold the world “captive”.

Furthermore, he warned to cancel a planned summit with Chinese leader President Xi, which was set for a meeting in Seoul before the month ends.

His statements on last Friday rattled stock exchanges, with the S&P 500 closing down 2.7%, marking its largest decline since April.

The president’s words reignited fears of a trade war between the United States and China.

Earlier this year, the both nations had consented to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the economic powers.

This left, American import duties on products from China facing an extra 30% levy compared with the start of the year, while American products entering China are subject to a ten percent duty.

The most recent comments from China – published by the Commerce Ministry in the form of formal replies to press queries – echoed rhetoric from the zenith of the latest commercial tensions.

Officials denounced US export restrictions on electronic components while defending Beijing’s export controls on rare earth minerals as “routine measures” to protect national security and that of all nations.

Their representative said that for “a long time”, the United States had “broadened the definition” of domestic safety, abused overseas sale restrictions and “adopted biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the right way to deal with Beijing,” the spokesperson stated.

“China’s position on a import duty dispute has always been unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, Beijing announced it was reinforcing export controls on rare earths and further resources critical for cutting-edge industry.

The action was viewed as a important measure, as the country processes about 90% of the planet’s critical minerals, which are used in products such as photovoltaic modules and mobile phones.

The recent comments from Washington and Beijing are being interpreted by observers as a method of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a talks between the former president and China’s leader, scheduled at a summit in the Republic of Korea before month’s end, will still proceed.