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The former US president’s latest ultimatum to introduce an extra 100% tariff on products from China has been described as a “typical example” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry additionally remarked that Beijing could introduce its own unrevealed “countermeasures” if the White House occupant carries out his warning, emphasizing that the country was “not afraid” of a looming trade conflict.

Last Friday, the former president responded at Beijing’s move to reinforce its policies for overseas sales of critical elements, alleging Beijing of “becoming very hostile” and attempting to hold the international market “hostage”.

He also warned to withdraw from a scheduled summit with Chinese leader Xi Jinping, which was arranged for a conference in South Korea in the coming weeks.

His statements on last Friday unsettled financial markets, with the S&P 500 share index dropping 2.7%, marking its largest decline since April.

His comments renewed fears of a commercial dispute between the US and China.

This past spring, the both nations had consented to eliminate high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

Consequently, United States levies on Chinese imports subject to an additional import tax compared with the start of the year, while US goods entering China incur a import levy.

The most recent comments from China – issued by the Ministry of Commerce in the form of written responses to journalist’s questions – reflected rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while supporting Beijing’s restrictions on exports on rare earth minerals as “normal actions” to protect domestic safety and that of every country.

The spokesperson remarked that for “an extended period”, the America had “overstretched the concept of domestic safety, misused overseas sale restrictions and “adopted biased policies against the Chinese nation.

“Turning to” tariff threats is not the right way to interact with the Chinese government,” the spokesperson stated.

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

Last week, Beijing declared it was tightening export controls on key elements and additional substances vital for high-technology production.

This move was regarded as a important measure, as the nation processes about ninety percent of the global rare earth supply, which are employed in goods such as photovoltaic modules and mobile phones.

The recent comments from the US and China are being seen by analysts as a method of bolstering negotiating stances ahead of forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and China’s leader, expected at a summit in Seoul in the coming weeks, will still proceed.