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Donald Trump’s latest ultimatum to impose an additional full import duty on items imported from China has been called a “prime illustration” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that Beijing could introduce its own undisclosed “retaliatory steps” if the US President follows through on his pledge, emphasizing that the country was “not afraid” of a looming trade war.

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

He also threatened to cancel a arranged summit with Beijing’s head of state Xi, which was arranged for a summit in the Republic of Korea later this month.

His statements on last Friday rattled financial markets, with the S&P 500 dropping over two and a half percent, marking its largest decline since earlier this year.

These statements renewed apprehensions of a trade conflict between the United States and China.

In May, the respective governments had reached an agreement to drop triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the economic powers.

Consequently, US tariffs on products from China subject to an added import tax compared with the year’s onset, while US goods entering the Chinese market incur a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the form of official answers to press queries – echoed language from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while defending China’s own overseas sale regulations on key elements as “standard procedures” to protect national security and that of all nations.

The official remarked that for “a long time”, the United States had “expanded the interpretation” of domestic safety, abused foreign shipment regulations and “enforced” discriminatory practices against China.

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

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

Last week, the Chinese government announced it was strengthening overseas sale regulations on rare earths and further resources critical for cutting-edge industry.

This was seen as a key move, as the country processes about the vast majority of the planet’s critical minerals, which are utilized in goods such as renewable energy components and smartphones.

New remarks from both governments are being interpreted by observers as a means of bolstering negotiating stances prior to forthcoming discussions.

Remains uncertain whether a talks between Trump and China’s leader, planned at a conference in the Republic of Korea in the coming weeks, will still proceed.