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Trump’s latest ultimatum to enforce an additional complete levy on Chinese goods has been called a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that China could introduce its own undisclosed “retaliatory steps” if the US President carries out his threat, noting that the country was “not afraid” of a possible trade conflict.

On Friday, the former president responded at China’s decision to reinforce its regulations for overseas sales of rare earth minerals, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he threatened to pull out of a planned summit with Chinese leader President Xi, which was arranged for a summit in Seoul before the month ends.

The former president’s remarks on last Friday shook financial markets, with the benchmark US stock index closing down over two and a half percent, marking its biggest drop since last spring.

These statements revived concerns of a trade war between the two economic giants.

This past spring, the two sides had consented to eliminate triple-digit tariffs on each other’s imports, which had raised the prospect of commerce ceasing between the two nations.

This left, United States levies on Chinese goods incurring an additional thirty percent tariff compared with the year’s onset, while US goods entering China are subject to a import levy.

The most recent comments from China – released by the Ministry of Commerce in the form of written responses to media inquiries – reflected language from the zenith of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while justifying the country’s own export controls on rare earths as “routine measures” to protect national security and that of all nations.

Their representative said that for “many years”, the United States had “overstretched the concept of state security, misused foreign shipment regulations and “implemented” discriminatory practices against the Chinese nation.

“Turning to” tariff threats is not the right way to interact with Beijing,” the spokesperson commented.

“Beijing’s stance” on a tariff war has remained steady: we wish to avoid one, but we are unafraid of one.”

Last week, Beijing announced it was strengthening foreign shipment restrictions on key elements and other materials essential to advanced tech manufacturing.

The action was viewed as a important measure, as the nation handles about ninety percent of the world’s rare earths, which are used in items such as renewable energy components and mobile phones.

The recent comments from Washington and Beijing are being viewed by some as a method of bolstering negotiating stances prior to forthcoming discussions.

Is not yet known whether a summit between Trump and China’s leader, planned at a high-level meeting in the Republic of Korea later this month, will go ahead.