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The former US president’s latest ultimatum to introduce an extra complete levy on items imported from China has been labeled a “classic case” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that the nation could introduce its own unspecified “retaliatory steps” if the White House occupant carries out his warning, adding that the country was “fearless” of a possible trade conflict.

Last Friday, Donald Trump hit back at China’s decision to reinforce its policies for exports of critical elements, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Additionally, he vowed to withdraw from a scheduled summit with Chinese leader Xi Jinping, which was expected to take place during a conference in Seoul before the month ends.

Trump’s comments on last Friday shook stock exchanges, with the benchmark US stock index closing down 2.7%, marking its biggest drop since earlier this year.

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

In May, the both nations had agreed to eliminate significant levies on each other’s imports, which had led to concerns of trade halting between the two nations.

As a result, American import duties on Chinese imports facing an extra 30% levy compared with the start of the year, while US goods entering the country incur a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the manner of formal replies to press queries – mirrored language from the peak of the latest commercial tensions.

They criticised United States controls on semiconductors and chips while defending Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to safeguard domestic safety and that of the global community.

The official remarked that for “a long time”, the US had “overstretched the concept of domestic safety, abused export control measures and “implemented” biased policies against the Chinese nation.

“Turning to” tariff threats is not the right way to deal with the Chinese government,” the official said.

“China’s position on a trade conflict has remained steady: we wish to avoid one, but we are not afraid of one.”

The previous week, China declared it was strengthening overseas sale regulations on rare earths and other materials essential to cutting-edge industry.

This was seen as a key move, as the nation handles about 90% of the planet’s critical minerals, which are utilized in goods such as renewable energy components and handheld devices.

Latest statements from both governments are being viewed by some as a means of bolstering negotiating stances prior to future trade talks.

It is unclear whether a talks between Donald Trump and President Xi, planned at a summit in the Republic of Korea in the coming weeks, will still proceed.