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The former US president’s newest ultimatum to enforce an further full import duty on products from China has been labeled a “typical example” of US double standards, as stated by the Chinese government.

A representative of the ministry further commented that the nation could implement its own unspecified “retaliatory steps” if the White House occupant follows through on his warning, noting that the country was “fearless” of a potential trade war.

Last Friday, the former president hit back at the Chinese government’s action to reinforce its policies for foreign shipments of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the international market “captive”.

Furthermore, he threatened to cancel a scheduled summit with Beijing’s head of state President Xi, which was arranged for a conference in South Korea before the month ends.

The former president’s remarks on last Friday shook global markets, with the S&P 500 closing down 2.7%, marking its biggest drop since earlier this year.

The president’s words revived fears of a trade conflict between the two economic giants.

This past spring, the both nations had consented to drop triple-digit tariffs on each other’s imports, which had raised the prospect of trade halting between the economic powers.

This left, United States levies on Chinese goods facing an extra 30% levy compared with the year’s onset, while US goods entering the Chinese market face a ten percent duty.

Beijing’s recent statements – issued by the Ministry of Commerce in the manner of written responses to press queries – mirrored language from the zenith of the ongoing trade dispute.

Officials denounced US export restrictions on semiconductors and chips while defending Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to protect national security and that of the global community.

The spokesperson remarked that for “a long time”, the America had “expanded the interpretation” of domestic safety, misused export control measures and “implemented” biased policies against Beijing.

“Resorting to tariff threats is not the correct approach to interact with Beijing,” the official said.

“The nation’s view” on a import duty dispute has always been consistent: we do not want one, but we are unafraid of one.”

Recently, Beijing announced it was reinforcing overseas sale regulations on key elements and other materials essential to cutting-edge industry.

This was seen as a key move, as the country processes about ninety percent of the global rare earth supply, which are utilized in goods such as renewable energy components and mobile phones.

Latest statements from Washington and Beijing are being viewed by observers as a strategy of strengthening positions ahead of upcoming negotiations.

Is not yet known whether a summit between the former president and Xi Jinping, expected at a high-level meeting in Seoul later this month, will still proceed.