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Trump’s most recent ultimatum to impose an extra full import duty 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 additionally remarked that the nation could implement its own unrevealed “responsive actions” if the US President executes his warning, noting that the country was “not afraid” of a potential commercial battle.

On Friday, Trump hit back at China’s decision to reinforce its policies for overseas sales of rare earth minerals, accusing Beijing of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he threatened to pull out of a planned summit with China’s President Xi, which was expected to take place during a conference in the Republic of Korea before the month ends.

Trump’s comments on Friday unsettled global markets, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since April.

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

Earlier this year, the respective governments had consented to drop high import duties on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, United States levies on Chinese imports facing an additional 30% levy compared with the start of the year, while American products entering the country face a ten percent duty.

The most recent comments from China – released by the Commerce Ministry in the format of formal replies to press queries – reflected terminology from the height of the ongoing trade dispute.

Officials denounced United States controls on semiconductors and chips while supporting Beijing’s export controls on key elements as “routine measures” to protect national security and that of the global community.

Their representative remarked that for “many years”, the US had “broadened the definition” of state security, misused overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Resorting to trade levy ultimatums is not the correct approach to interact with China,” their representative stated.

“The nation’s view” on a import duty dispute has remained unchanging: we wish to avoid one, but we are unafraid of one.”

Recently, Beijing announced it was strengthening overseas sale regulations on rare earths and other materials critical for cutting-edge industry.

The action was viewed as a significant step, as the country refines about ninety percent of the world’s rare earths, which are used in products such as solar panels and smartphones.

Latest statements from Washington and Beijing are being seen by observers as a strategy of strengthening positions ahead of future trade talks.

It is unclear whether a meeting between Donald Trump and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will go ahead.