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The former US president’s newest threat to impose an further complete levy on Chinese goods has been described as a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson further commented that the nation could introduce its own unspecified “responsive actions” if the US President executes his threat, noting that the country was “unafraid” of a possible trade war.

On Friday, Trump retaliated at the Chinese government’s action to strengthen its regulations for exports of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the world “captive”.

Furthermore, he vowed to withdraw from a arranged summit with China’s President President Xi, which was expected to take place during a meeting in Seoul before the month ends.

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

These statements revived apprehensions of a trade conflict between the two economic giants.

This past spring, the respective governments had agreed to eliminate triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the two nations.

This left, American import duties on Chinese goods facing an added 30% levy compared with the year’s onset, while items from the United States entering China face a import levy.

Beijing’s recent statements – published by the Ministry of Commerce in the format of official answers to journalist’s questions – echoed rhetoric from the height of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while defending the country’s own export controls on key elements as “routine measures” to protect national security and that of the global community.

The spokesperson remarked that for “a long time”, the US had “overstretched the concept of state security, exploited overseas sale restrictions and “adopted discriminatory practices against China.

“Turning to” import duty warnings is not the correct approach to engage with the Chinese government,” their representative commented.

“Beijing’s stance” on a import duty dispute has always been steady: we are not seeking one, but we are unafraid of one.”

Recently, China declared it was strengthening overseas sale regulations on key elements and other materials vital for cutting-edge industry.

The action was viewed as a key move, as the state refines about 90% of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and mobile phones.

The recent comments from Washington and Beijing are being interpreted by observers as a method of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a talks between the former president and China’s leader, expected at a high-level meeting in Seoul later this month, will go ahead.