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Trump’s most recent threat to impose an extra full import duty on products from China has been described as a “classic case” of US double standards, per the China’s leadership.

A representative of the ministry additionally remarked that the nation could introduce its own unrevealed “responsive actions” if the US President executes his threat, emphasizing that the country was “not afraid” of a looming trade conflict.

On Friday, the former president retaliated at Beijing’s move to reinforce its policies for foreign shipments of critical elements, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also warned to cancel a planned summit with Beijing’s head of state President Xi, which was arranged for a conference in South Korea in the coming weeks.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 closing down 2.7%, marking its steepest fall since last spring.

The president’s words renewed apprehensions of a commercial dispute between the US and China.

In May, the respective governments had reached an agreement to drop significant levies on each other’s products, which had led to concerns of trade halting between the two countries.

As a result, American import duties on Chinese goods incurring an extra import tax compared with the start of the year, while American products entering China are subject to a 10% tariff.

China’s latest remarks – issued by the Ministry of Commerce in the manner of official answers to media inquiries – mirrored rhetoric from the peak of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while defending China’s own overseas sale regulations on rare earth minerals as “standard procedures” to safeguard domestic safety and that of all nations.

The spokesperson remarked that for “a long time”, the US had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” unfair treatments against Beijing.

“Turning to” import duty warnings is not the right way to deal with China,” their representative said.

“The nation’s view” on a tariff war has remained steady: we wish to avoid one, but we are not afraid of one.”

Recently, Beijing declared it was tightening foreign shipment restrictions on rare earths and other materials essential to advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about the vast majority of the world’s rare earths, which are employed in goods such as solar panels and mobile phones.

Latest statements from Washington and Beijing are being interpreted by observers as a method of strengthening positions ahead of future trade talks.

Remains uncertain whether a meeting between Trump and President Xi, expected at a conference in Seoul in the coming weeks, will go ahead.