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The former US president’s latest warning to enforce an further full import duty on items imported from China has been described as a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that Beijing could introduce its own unrevealed “retaliatory steps” if the American leader executes his threat, emphasizing that the country was “unafraid” of a possible commercial battle.

This past Friday, Donald Trump retaliated at China’s decision to reinforce its regulations for overseas sales of rare earth minerals, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he threatened to withdraw from a planned summit with Chinese leader Xi Jinping, which was expected to take place during a meeting in South Korea in the coming weeks.

His statements on Friday unsettled global markets, with the S&P 500 share index falling by over two and a half percent, marking its largest decline since April.

These statements renewed fears of a commercial dispute between the two economic giants.

In May, the both nations had reached an agreement to remove significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

As a result, US tariffs on products from China incurring an extra 30% levy compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

The most recent comments from China – released by the relevant government department in the form of formal replies to journalist’s questions – mirrored rhetoric from the peak of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while justifying China’s own restrictions on exports on key elements as “normal actions” to ensure domestic safety and that of the global community.

Their representative stated that for “many years”, the United States had “broadened the definition” of state security, exploited export control measures and “enforced” biased policies against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to deal with the Chinese government,” their representative said.

“The nation’s view” on a tariff war has always been steady: we are not seeking one, but we are unafraid of one.”

Recently, the Chinese government declared it was reinforcing export controls on rare earths and further resources critical for high-technology production.

The action was viewed as a significant step, as the nation processes about 90% of the global rare earth supply, which are used in products such as renewable energy components and smartphones.

Latest statements from both governments are being viewed by observers as a means of bolstering negotiating stances in preparation for future trade talks.

It is unclear whether a meeting between Trump and President Xi, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will go ahead.