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The former US president’s newest warning to impose an additional complete levy on products from China has been called a “classic case” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry further commented that Beijing could enact its own unrevealed “countermeasures” if the American leader carries out his pledge, noting that the country was “not afraid” of a looming trade conflict.

Last Friday, Donald Trump hit back at Beijing’s move to reinforce its policies for foreign shipments of rare earth minerals, charging Beijing of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Additionally, he vowed to withdraw from a planned summit with Chinese leader Xi, which was arranged for a summit in Seoul in the coming weeks.

The former president’s remarks on last Friday shook stock exchanges, with the S&P 500 dropping 2.7%, marking its biggest drop since last spring.

His comments renewed concerns of a commercial dispute between the US and China.

This past spring, the respective governments had consented to drop high import duties on each other’s imports, which had created the possibility of commerce ceasing between the economic powers.

As a result, US tariffs on products from China facing an added import tax compared with the start of the year, while American products entering the country face a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the form of formal replies to press queries – mirrored language from the height of the ongoing trade dispute.

The remarks condemned United States controls on chips and semi-conductors while defending China’s own overseas sale regulations on rare earths as “normal actions” to ensure state interests and that of all nations.

The official said that for “an extended period”, the United States had “expanded the interpretation” of national security, misused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Using” import duty warnings is not the correct approach to deal with the Chinese government,” the spokesperson said.

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

The previous week, the Chinese government revealed it was tightening foreign shipment restrictions on key elements and further resources vital for advanced tech manufacturing.

The action was viewed as a significant step, as the country handles about ninety percent of the global rare earth supply, which are used in goods such as solar panels and handheld devices.

New remarks from both governments are being interpreted by some as a method of enhancing bargaining power ahead of forthcoming discussions.

It is unclear whether a talks between Donald Trump and Xi Jinping, expected at a high-level meeting in South Korea in the coming weeks, will still proceed.