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The former US president’s latest ultimatum to impose an further 100% tariff on Chinese goods has been labeled a “prime illustration” of US double standards, as stated by the Chinese government.

A representative of the ministry also stated that China could enact its own undisclosed “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “not afraid” of a possible trade conflict.

This past Friday, Trump hit back at Beijing’s move to strengthen its regulations for foreign shipments of critical elements, charging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

Additionally, he warned to pull out of a arranged meeting with Chinese leader President Xi, which was arranged for a summit in South Korea in the coming weeks.

His statements on that day shook financial markets, with the S&P 500 share index falling by over two and a half percent, marking its largest decline since earlier this year.

His comments revived concerns of a trade conflict between the US and China.

Earlier this year, the both nations had agreed to remove high import duties on each other’s imports, which had led to concerns of trade halting between the economic powers.

This left, United States levies on Chinese imports incurring an additional import tax compared with the year’s onset, while items from the United States entering the Chinese market incur a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the manner of formal replies to media inquiries – mirrored rhetoric from the peak of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while defending the country’s own export controls on rare earths as “normal actions” to protect national security and that of the global community.

The spokesperson said that for “a long time”, the United States had “overstretched the concept of domestic safety, misused export control measures and “adopted unfair treatments against the Chinese nation.

“Resorting to import duty warnings is not the proper method to engage with China,” their representative commented.

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

Recently, Beijing announced it was strengthening overseas sale regulations on key elements and additional substances vital for cutting-edge industry.

This was seen as a significant step, as the nation processes about the vast majority of the planet’s critical minerals, which are employed in goods such as photovoltaic modules and smartphones.

The recent comments from both governments are being interpreted by observers as a means of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a summit between Trump and President Xi, planned at a conference in South Korea later this month, will go ahead.