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Trump’s most recent ultimatum to introduce an further full import duty on products from China has been called a “typical example” of US double standards, according to the Chinese government.

A Commerce Ministry spokesperson additionally remarked that Beijing could introduce its own undisclosed “countermeasures” if the American leader follows through on his pledge, emphasizing that the country was “unafraid” of a potential trade war.

This past Friday, Trump hit back at the Chinese government’s action to tighten its policies for exports of rare earths, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he vowed to withdraw from a scheduled meeting with China’s President Xi, which was arranged for a conference in Seoul before the month ends.

His statements on that day unsettled stock exchanges, with the S&P 500 closing down 2.7%, marking its biggest drop since earlier this year.

His comments renewed concerns of a trade conflict between the US and China.

This past spring, the respective governments had agreed to remove triple-digit tariffs on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

This left, United States levies on Chinese imports incurring an extra 30% levy compared with the year’s onset, while American products entering the country face a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the format of written responses to journalist’s questions – mirrored language from the peak of the recent trade conflict.

They criticised US export restrictions on semiconductors and chips while justifying the country’s own restrictions on exports on rare earths as “normal actions” to protect national security and that of every country.

Their representative stated that for “an extended period”, the America had “expanded the interpretation” of state security, misused export control measures and “implemented” discriminatory practices against the Chinese nation.

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

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

Last week, China declared it was tightening export controls on key elements and additional substances vital for high-technology production.

The action was viewed as a important measure, as the country refines about the vast majority of the world’s rare earths, which are utilized in items such as solar panels and handheld devices.

New remarks from the US and China are being interpreted by analysts as a strategy of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a summit between the former president and China’s leader, planned at a high-level meeting in Seoul in the coming weeks, will go ahead.