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The former US president’s most recent ultimatum to impose an further full import duty on products from China has been described as a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson further commented that Beijing could enact its own undisclosed “countermeasures” if the White House occupant executes his pledge, noting that the country was “not afraid” of a looming trade conflict.

On Friday, the former president retaliated at Beijing’s move to tighten its rules for exports of rare earth minerals, accusing China of “turning aggressive” and attempting to hold the global community “captive”.

Furthermore, he warned to cancel a planned meeting with Beijing’s head of state Xi, which was set for a conference in South Korea before the month ends.

His statements on last Friday rattled financial markets, with the S&P 500 closing down nearly three percent, marking its steepest fall since earlier this year.

These statements renewed apprehensions of a trade war between the two economic giants.

In May, the two sides had reached an agreement to eliminate high import duties on each other’s products, which had created the possibility of commerce ceasing between the economic powers.

Consequently, American import duties on products from China subject to an added 30% levy compared with the year’s onset, while US goods entering the Chinese market incur a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of official answers to journalist’s questions – mirrored language from the zenith of the latest commercial tensions.

Officials denounced American limits on exports on chips and semi-conductors while defending China’s own overseas sale regulations on rare earths as “standard procedures” to ensure national security and that of every country.

The spokesperson stated that for “an extended period”, the United States had “overstretched the concept of national security, misused overseas sale restrictions and “implemented” unfair treatments against Beijing.

“Using” tariff threats is not the right way to deal with Beijing,” their representative commented.

“China’s position on a import duty dispute has remained unchanging: we are not seeking one, but we are not afraid of one.”

Recently, China announced it was tightening foreign shipment restrictions on key elements and additional substances critical for high-technology production.

This move was regarded as a important measure, as the state refines about ninety percent of the global rare earth supply, which are used in items such as solar panels and smartphones.

New remarks from the US and China are being viewed by observers as a strategy of bolstering negotiating stances prior to future trade talks.

It is unclear whether a meeting between the former president and President Xi, expected at a conference in South Korea in the coming weeks, will go ahead.