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Trump’s most recent ultimatum to introduce an extra complete levy on items imported from China has been described as a “prime illustration” of US double standards, according to the Beijing administration.

A representative of the ministry additionally remarked that Beijing could introduce its own undisclosed “retaliatory steps” if the US President follows through on his pledge, noting that the country was “not afraid” of a possible trade war.

Last Friday, Trump retaliated at China’s decision to tighten its rules for foreign shipments of rare earths, charging Beijing of “becoming very hostile” and attempting to hold the international market “captive”.

Furthermore, he threatened to cancel a planned meeting with China’s President Xi, which was set for a conference in South Korea in the coming weeks.

The former president’s remarks on Friday rattled global markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since last spring.

The president’s words revived concerns of a commercial dispute between the US and China.

This past spring, the two sides had consented to remove significant levies on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

As a result, American import duties on Chinese imports facing an added 30% levy compared with the start of the year, while American products entering the Chinese market face a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the form of formal replies to press queries – echoed rhetoric from the peak of the ongoing trade dispute.

The remarks condemned American limits on exports on chips and semi-conductors while supporting the country’s own export controls on rare earth minerals as “standard procedures” to safeguard domestic safety and that of all nations.

Their representative stated that for “a long time”, the America had “expanded the interpretation” of national security, misused overseas sale restrictions and “implemented” biased policies against the Chinese nation.

“Turning to” import duty warnings is not the correct approach to deal with Beijing,” the official commented.

“Beijing’s stance” on a import duty dispute has consistently been consistent: we do not want one, but we are unafraid of one.”

Last week, Beijing announced it was tightening overseas sale regulations on key elements and other materials critical for cutting-edge industry.

This was seen as a key move, as the country processes about ninety percent of the global rare earth supply, which are employed in items such as solar panels and smartphones.

The recent comments from Washington and Beijing are being viewed by observers as a strategy of strengthening positions prior to future trade talks.

Is not yet known whether a summit between the former president and President Xi, planned at a summit in the Republic of Korea in the coming weeks, will take place as planned.