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Donald Trump’s latest ultimatum to introduce an further full import duty on products from China has been labeled a “typical example” of US double standards, as stated by the China’s leadership.

A representative of the ministry additionally remarked that the nation could enact its own unrevealed “countermeasures” if the White House occupant executes his warning, adding that the country was “not afraid” of a potential commercial battle.

This past Friday, the former president retaliated at the Chinese government’s action to tighten its rules for overseas sales of rare earths, charging the Chinese leadership of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he threatened to pull out of a arranged summit with Beijing’s head of state Xi, which was set for a summit in South Korea in the coming weeks.

Trump’s comments on Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its largest decline since last spring.

His comments reignited apprehensions of a trade conflict between the two economic giants.

This past spring, the respective governments had reached an agreement to drop triple-digit tariffs on each other’s goods, which had created the possibility of trade halting between the two countries.

As a result, US tariffs on Chinese imports subject to an extra thirty percent tariff compared with the year’s onset, while US goods entering China are subject to a import levy.

China’s latest remarks – issued by the Commerce Ministry in the format of official answers to media inquiries – mirrored terminology from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on semiconductors and chips while defending Beijing’s overseas sale regulations on rare earths as “standard procedures” to protect national security and that of every country.

Their representative remarked that for “many years”, the US had “broadened the definition” of national security, abused foreign shipment regulations and “enforced” biased policies against China.

“Resorting to import duty warnings is not the proper method to deal with Beijing,” the official commented.

“Beijing’s stance” on a tariff war has always been unchanging: we are not seeking one, but we are fearless of one.”

Recently, the Chinese government declared it was strengthening foreign shipment restrictions on rare earth minerals and other materials critical for advanced tech manufacturing.

This was seen as a key move, as the state handles about 90% of the world’s rare earths, which are utilized in products such as renewable energy components and smartphones.

The recent comments from both governments are being viewed by some as a means of bolstering negotiating stances in preparation for forthcoming discussions.

It is unclear whether a summit between Donald Trump and Xi Jinping, planned at a summit in Seoul later this month, will take place as planned.