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Trump’s newest warning to impose an extra full import duty on products from China has been called a “prime illustration” of US double standards, according to the Beijing administration.

A Commerce Ministry spokesperson also stated that China could introduce its own unrevealed “retaliatory steps” if the White House occupant carries out his warning, adding that the country was “unafraid” of a potential commercial battle.

On Friday, the former president responded at China’s decision to reinforce its policies for exports of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also vowed to pull out of a planned summit with Beijing’s head of state Xi, which was arranged for a conference in the Republic of Korea before the month ends.

Trump’s comments on Friday rattled financial markets, with the S&P 500 share index falling by over two and a half percent, marking its biggest drop since April.

The president’s words renewed fears of a trade war between the US and China.

Earlier this year, the two sides had consented to drop triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the economic powers.

Consequently, United States levies on products from China incurring an extra 30% levy compared with the year’s onset, while US goods entering China face a ten percent duty.

China’s latest remarks – issued by the Commerce Ministry in the format of official answers to journalist’s questions – mirrored rhetoric from the peak of the ongoing trade dispute.

They criticised United States controls on electronic components while supporting the country’s own restrictions on exports on rare earths as “normal actions” to ensure state interests and that of all nations.

The official stated that for “a long time”, the US had “broadened the definition” of national security, abused foreign shipment regulations and “enforced” discriminatory practices against China.

“Using” trade levy ultimatums is not the proper method to deal with China,” the official said.

“China’s position on a trade conflict has remained unchanging: we do not want one, but we are unafraid of one.”

The previous week, the Chinese government announced it was strengthening foreign shipment restrictions on rare earth minerals and additional substances essential to cutting-edge industry.

This move was regarded as a important measure, as the nation refines about the vast majority of the planet’s critical minerals, which are utilized in goods such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by some as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a summit between Donald Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea before month’s end, will go ahead.