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Trump’s newest ultimatum to enforce an additional full import duty on items imported from China has been called a “prime illustration” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that Beijing could introduce its own unspecified “retaliatory steps” if the American leader carries out his pledge, emphasizing that the country was “unafraid” of a possible trade conflict.

This past Friday, Trump retaliated at the Chinese government’s action to reinforce its policies for exports of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

He also vowed to pull out of a planned meeting with China’s President Xi, which was expected to take place during a meeting in South Korea before the month ends.

Trump’s comments on last Friday unsettled financial markets, with the benchmark US stock index dropping over two and a half percent, marking its biggest drop since last spring.

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

This past spring, the respective governments had reached an agreement to drop significant levies on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, US tariffs on products from China incurring an additional 30% levy compared with the start of the year, while US goods entering China incur a import levy.

The most recent comments from China – published by the Ministry of Commerce in the manner of formal replies to journalist’s questions – mirrored language from the zenith of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while justifying Beijing’s export controls on rare earths as “normal actions” to ensure national security and that of every country.

The spokesperson said that for “an extended period”, the United States had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “enforced” unfair treatments against Beijing.

“Turning to” import duty warnings is not the proper method to deal with China,” their representative said.

“The nation’s view” on a tariff war has always been unchanging: we do not want one, but we are not afraid of one.”

The previous week, Beijing revealed it was tightening foreign shipment restrictions on key elements and additional substances vital for cutting-edge industry.

This move was regarded as a key move, as the nation refines about 90% of the world’s rare earths, which are employed in products such as renewable energy components and smartphones.

Latest statements from both governments are being viewed by some as a method of strengthening positions ahead of forthcoming discussions.

Is not yet known whether a summit between Trump and President Xi, planned at a high-level meeting in Seoul later this month, will still proceed.