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Donald Trump’s newest warning to impose an extra full import duty on items imported from China has been described as a “classic case” of US double standards, as stated by the Chinese government.

A representative of the ministry further commented that China could enact its own undisclosed “responsive actions” if the American leader executes his warning, adding that the country was “not afraid” of a looming commercial battle.

This past Friday, the former president hit back at the Chinese government’s action to tighten its regulations for overseas sales of rare earths, charging China of “turning aggressive” and attempting to hold the world “hostage”.

Additionally, he threatened to withdraw from a planned meeting with Beijing’s head of state Xi, which was expected to take place during a summit in the Republic of Korea later this month.

Trump’s comments on Friday shook financial markets, with the benchmark US stock index dropping 2.7%, marking its largest decline since earlier this year.

These statements renewed fears of a trade war between the two economic giants.

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

Consequently, US tariffs on Chinese goods facing an additional thirty percent tariff compared with the start of the year, while American products entering the Chinese market incur a ten percent duty.

China’s latest remarks – released by the relevant government department in the form of formal replies to media inquiries – mirrored language from the peak of the ongoing trade dispute.

They criticised American limits on exports on semiconductors and chips while justifying Beijing’s export controls on rare earth minerals as “standard procedures” to protect state interests and that of every country.

The spokesperson said that for “many years”, the America had “broadened the definition” of domestic safety, misused export control measures and “enforced” biased policies against China.

“Using” trade levy ultimatums is not the correct approach to interact with the Chinese government,” their representative stated.

“The nation’s view” on a trade conflict has remained consistent: we do not want one, but we are unafraid of one.”

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

The action was viewed as a key move, as the country processes about 90% of the planet’s critical minerals, which are employed in goods such as solar panels and handheld devices.

New remarks from the US and China are being interpreted by observers as a method of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a meeting between Trump and President Xi, planned at a high-level meeting in South Korea in the coming weeks, will go ahead.