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Trump’s newest ultimatum to impose an extra full import duty on products from China has been called a “typical example” of US double standards, per the Beijing administration.

A official from China’s Commerce Ministry further commented that China could enact its own undisclosed “countermeasures” if the White House occupant carries out his pledge, noting that the country was “fearless” of a looming trade conflict.

Last Friday, the former president responded at China’s decision to strengthen its rules for overseas sales of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

He also warned to cancel a scheduled meeting with China’s President Xi Jinping, which was expected to take place during a meeting in Seoul later this month.

Trump’s comments on Friday unsettled financial markets, with the S&P 500 share index dropping nearly three percent, marking its biggest drop since earlier this year.

These statements renewed concerns of a trade conflict between the two economic giants.

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

This left, US tariffs on products from China incurring an added import tax compared with the year’s onset, while American products entering the country face a ten percent duty.

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

The remarks condemned US export restrictions on electronic components while supporting China’s own overseas sale regulations on key elements as “routine measures” to safeguard domestic safety and that of every country.

The spokesperson remarked that for “an extended period”, the US had “expanded the interpretation” of state security, abused foreign shipment regulations and “enforced” biased policies against the Chinese nation.

“Using” import duty warnings is not the correct approach to interact with Beijing,” the official stated.

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

The previous week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earth minerals and further resources essential to cutting-edge industry.

This was seen as a key move, as the state handles about the vast majority of the world’s rare earths, which are employed in goods such as solar panels and mobile phones.

The recent comments from Washington and Beijing are being viewed by analysts as a means of strengthening positions prior to forthcoming discussions.

Is not yet known whether a summit between Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea later this month, will take place as planned.