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The former US president’s newest ultimatum to enforce an additional full import duty on items imported from China has been labeled a “typical example” of US double standards, as stated by the Beijing administration.

A representative of the ministry additionally remarked that the nation could implement its own undisclosed “countermeasures” if the American leader follows through on his pledge, adding that the country was “not afraid” of a looming trade war.

On Friday, Donald Trump responded at China’s decision to reinforce its rules for exports of rare earths, charging Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he vowed to pull out of a planned meeting with Beijing’s head of state Xi, which was expected to take place during a conference in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday unsettled financial markets, with the S&P 500 share index falling by over two and a half percent, marking its steepest fall since earlier this year.

These statements revived fears of a trade war between the US and China.

In May, the both nations had agreed to drop high import duties on each other’s imports, which had led to concerns of trade halting between the two countries.

Consequently, US tariffs on Chinese imports facing an extra import tax compared with the year’s onset, while items from the United States entering the country face a 10% tariff.

The most recent comments from China – published by the relevant government department in the form of official answers to press queries – reflected terminology from the peak of the recent trade conflict.

The remarks condemned American limits on exports on chips and semi-conductors while defending China’s own overseas sale regulations on rare earth minerals as “routine measures” to safeguard state interests and that of the global community.

Their representative said that for “a long time”, the US had “overstretched the concept of state security, abused foreign shipment regulations and “enforced” unfair treatments against China.

“Resorting to import duty warnings is not the correct approach to engage with China,” their representative stated.

“The nation’s view” on a trade conflict has consistently been consistent: we do not want one, but we are unafraid of one.”

Last week, the Chinese government revealed it was reinforcing foreign shipment restrictions on key elements and further resources essential to cutting-edge industry.

The action was viewed as a key move, as the country handles about the vast majority of the planet’s critical minerals, which are employed in products such as solar panels and smartphones.

The recent comments from both governments are being seen by observers as a means of enhancing bargaining power in preparation for future trade talks.

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