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Trump’s most recent warning to introduce an further full import duty on items imported from China has been called a “classic case” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson also stated that the nation could implement its own unspecified “countermeasures” if the US President follows through on his pledge, emphasizing that the country was “not afraid” of a looming commercial battle.

On Friday, the former president responded at the Chinese government’s action to reinforce its rules for exports of rare earth minerals, alleging China of “turning aggressive” and attempting to hold the global community “hostage”.

He also threatened to pull out of a scheduled meeting with China’s President President Xi, which was set for a summit in the Republic of Korea later this month.

His statements on Friday rattled global markets, with the S&P 500 share index closing down nearly three percent, marking its steepest fall since last spring.

His comments renewed apprehensions of a commercial dispute between the US and China.

This past spring, the respective governments had reached an agreement to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of bilateral trade stopping between the two nations.

As a result, US tariffs on products from China subject to an additional 30% levy compared with the start of the year, while items from the United States entering China are subject to a ten percent duty.

The most recent comments from China – issued by the relevant government department in the manner of formal replies to media inquiries – mirrored rhetoric from the peak of the latest commercial tensions.

They criticised US export restrictions on electronic components while supporting China’s own overseas sale regulations on key elements as “routine measures” to protect state interests and that of every country.

The official stated that for “many years”, the America had “expanded the interpretation” of national security, misused foreign shipment regulations and “enforced” biased policies against Beijing.

“Resorting to trade levy ultimatums is not the right way to deal with China,” the spokesperson commented.

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

Recently, the Chinese government announced it was strengthening overseas sale regulations on key elements and additional substances critical for cutting-edge industry.

This was seen as a important measure, as the country refines about ninety percent of the global rare earth supply, which are utilized in goods such as solar panels and handheld devices.

New remarks from both governments are being viewed by some as a means of enhancing bargaining power ahead of forthcoming discussions.

Remains uncertain whether a summit between Donald Trump and Xi Jinping, planned at a high-level meeting in the Republic of Korea in the coming weeks, will still proceed.