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The former US president’s latest ultimatum to impose an extra 100% tariff on Chinese goods has been described as a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that the nation could implement its own undisclosed “retaliatory steps” if the US President executes his threat, emphasizing that the country was “unafraid” of a possible commercial battle.

Last Friday, Donald Trump responded at Beijing’s move to strengthen its policies for exports of rare earths, alleging China of “turning aggressive” and attempting to hold the world “captive”.

Additionally, he warned to withdraw from a arranged talks with Chinese leader President Xi, which was expected to take place during a summit in the Republic of Korea later this month.

His statements on Friday unsettled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its largest decline since April.

His comments renewed fears of a trade war between the US and China.

This past spring, the both nations had agreed to eliminate triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, US tariffs on Chinese goods facing an added thirty percent tariff compared with the start of the year, while American products entering the Chinese market incur a ten percent duty.

China’s latest remarks – issued by the relevant government department in the form of formal replies to journalist’s questions – mirrored language from the height of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while supporting the country’s own export controls on key elements as “routine measures” to safeguard domestic safety and that of the global community.

The official remarked that for “many years”, the United States had “broadened the definition” of state security, misused foreign shipment regulations and “implemented” discriminatory practices against China.

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

“China’s position on a trade conflict has consistently been steady: we do not want one, but we are fearless of one.”

Recently, China revealed it was reinforcing overseas sale regulations on rare earths and additional substances essential to advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about 90% of the world’s rare earths, which are used in goods such as solar panels and smartphones.

The recent comments from the US and China are being viewed by analysts as a method of bolstering negotiating stances ahead of future trade talks.

It is unclear whether a meeting between Trump and President Xi, planned at a high-level meeting in Seoul before month’s end, will still proceed.