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The former US president’s most recent threat to introduce an extra complete levy on products from China has been described as a “prime illustration” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson also stated that China could introduce its own unspecified “retaliatory steps” if the American leader carries out his pledge, emphasizing that the country was “not afraid” of a potential trade war.

On Friday, the former president responded at Beijing’s move to strengthen its rules for foreign shipments of critical elements, accusing China of “turning aggressive” and attempting to hold the world “captive”.

Additionally, he threatened to pull out of a arranged meeting with Chinese leader Xi Jinping, which was expected to take place during a conference in South Korea before the month ends.

The former president’s remarks on last Friday rattled global markets, with the S&P 500 share index closing down over two and a half percent, marking its steepest fall since earlier this year.

These statements renewed fears of a commercial dispute between the US and China.

This past spring, the two sides had consented to drop triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, US tariffs on products from China subject to an extra 30% levy compared with the year’s onset, while US goods entering the Chinese market are subject to a ten percent duty.

China’s latest remarks – issued by the relevant government department in the manner of official answers to media inquiries – mirrored rhetoric from the zenith of the ongoing trade dispute.

They criticised United States controls on electronic components while defending Beijing’s restrictions on exports on key elements as “routine measures” to ensure national security and that of every country.

Their representative stated that for “an extended period”, the US had “broadened the definition” of national security, exploited overseas sale restrictions and “enforced” unfair treatments against China.

“Turning to” tariff threats is not the correct approach to deal with China,” the official stated.

“China’s position on a tariff war has always been unchanging: we do not want one, but we are fearless of one.”

Last week, the Chinese government announced it was reinforcing foreign shipment restrictions on rare earth minerals and further resources essential to advanced tech manufacturing.

The action was viewed as a key move, as the country handles about the vast majority of the global rare earth supply, which are used in products such as solar panels and smartphones.

New remarks from Washington and Beijing are being viewed by analysts as a method of strengthening positions in preparation for future trade talks.

It is unclear whether a summit between Trump and President Xi, expected at a conference in Seoul before month’s end, will still proceed.