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The former US president’s most recent ultimatum to enforce an further full import duty on Chinese goods has been called a “typical example” of US double standards, as stated by the Beijing administration.

A representative of the ministry further commented that the nation could enact its own unrevealed “countermeasures” if the White House occupant executes his pledge, emphasizing that the country was “fearless” of a possible commercial battle.

On Friday, the former president retaliated at China’s decision to tighten its policies for exports of rare earths, accusing Beijing of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Furthermore, he vowed to pull out of a scheduled meeting with Chinese leader Xi, which was set for a meeting in South Korea later this month.

The former president’s remarks on Friday rattled global markets, with the benchmark US stock index closing down over two and a half percent, marking its biggest drop since April.

The president’s words revived concerns of a trade war between the US and China.

Earlier this year, the both nations had consented to eliminate significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.

This left, American import duties on products from China facing an extra 30% levy compared with the start of the year, while US goods entering the Chinese market face a ten percent duty.

The most recent comments from China – issued by the Commerce Ministry in the format of official answers to media inquiries – mirrored rhetoric from the peak of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while defending China’s own overseas sale regulations on key elements as “normal actions” to ensure state interests and that of every country.

The spokesperson remarked that for “many years”, the United States had “overstretched the concept of domestic safety, abused overseas sale restrictions and “enforced” discriminatory practices against the Chinese nation.

“Turning to” trade levy ultimatums is not the correct approach to deal with China,” the official said.

“China’s position on a tariff war has remained unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, China announced it was reinforcing export controls on rare earths and further resources essential to high-technology production.

The action was viewed as a key move, as the country refines about the vast majority of the world’s rare earths, which are used in items such as photovoltaic modules and handheld devices.

New remarks from Washington and Beijing are being interpreted by some as a method of bolstering negotiating stances ahead of future trade talks.

It is unclear whether a talks between Donald Trump and President Xi, scheduled at a conference in Seoul in the coming weeks, will go ahead.