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The former US president’s most recent warning to impose an extra full import duty on Chinese goods has been labeled a “typical example” of US double standards, as stated by the Chinese government.

A representative of the ministry further commented that the nation could implement its own unrevealed “countermeasures” if the American leader carries out his warning, adding that the country was “not afraid” of a looming trade conflict.

This past Friday, the former president retaliated at Beijing’s move to reinforce its policies for overseas sales of rare earths, alleging China of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Furthermore, he vowed to withdraw from a scheduled meeting with Beijing’s head of state Xi, which was expected to take place during a summit in South Korea before the month ends.

The former president’s remarks on Friday rattled financial markets, with the S&P 500 dropping 2.7%, marking its biggest drop since earlier this year.

The president’s words renewed concerns of a trade war between the United States and China.

This past spring, the two sides had consented to remove triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two countries.

As a result, US tariffs on Chinese goods facing an extra 30% levy compared with the start of the year, while American products entering the country face a ten percent duty.

The most recent comments from China – issued by the Ministry of Commerce in the format of official answers to journalist’s questions – mirrored terminology from the zenith of the latest commercial tensions.

They criticised United States controls on chips and semi-conductors while justifying China’s own export controls on rare earth minerals as “routine measures” to ensure domestic safety and that of all nations.

The spokesperson remarked that for “an extended period”, the US had “expanded the interpretation” of domestic safety, misused export control measures and “implemented” unfair treatments against China.

“Using” tariff threats is not the proper method to engage with the Chinese government,” the spokesperson said.

“Beijing’s stance” on a trade conflict has consistently been unchanging: we are not seeking one, but we are fearless of one.”

Recently, the Chinese government announced it was reinforcing overseas sale regulations on rare earth minerals and additional substances vital for cutting-edge industry.

The action was viewed as a key move, as the nation refines about 90% of the global rare earth supply, which are utilized in items such as photovoltaic modules and mobile phones.

New remarks from the US and China are being viewed by analysts as a strategy of enhancing bargaining power ahead of forthcoming discussions.

Is not yet known whether a summit between Donald Trump and Xi Jinping, scheduled at a conference in Seoul later this month, will go ahead.