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The former US president’s latest threat to enforce an further full import duty on Chinese goods has been described as a “typical example” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that China could introduce its own unrevealed “responsive actions” if the American leader executes his warning, adding that the country was “not afraid” of a looming trade war.

This past Friday, Trump hit back at the Chinese government’s action to strengthen its policies for exports of rare earths, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he warned to withdraw from a arranged meeting with Chinese leader President Xi, which was set for a summit in South Korea in the coming weeks.

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

His comments revived concerns of a trade conflict between the two economic giants.

In May, the two sides had consented to eliminate triple-digit tariffs on each other’s products, which had raised the prospect of commerce ceasing between the two nations.

As a result, American import duties on Chinese goods subject to an additional thirty percent tariff compared with the start of the year, while items from the United States entering China are subject to a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the form of formal replies to press queries – reflected language from the zenith of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while supporting Beijing’s restrictions on exports on rare earths as “standard procedures” to ensure domestic safety and that of the global community.

The spokesperson remarked that for “many years”, the US had “expanded the interpretation” of domestic safety, misused overseas sale restrictions and “enforced” unfair treatments against China.

“Resorting to trade levy ultimatums is not the right way to interact with China,” their representative stated.

“China’s position on a trade conflict has consistently been steady: we wish to avoid one, but we are fearless of one.”

Last week, China revealed it was tightening export controls on rare earth minerals and additional substances essential to cutting-edge industry.

The action was viewed as a significant step, as the country refines about 90% of the planet’s critical minerals, which are utilized in goods such as solar panels and handheld devices.

Latest statements from Washington and Beijing are being seen by some as a strategy of bolstering negotiating stances prior to forthcoming discussions.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, scheduled at a high-level meeting in South Korea in the coming weeks, will take place as planned.