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The former US president’s most recent ultimatum to enforce an additional 100% tariff on items imported from China has been described as a “classic case” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson further commented that China could introduce its own unspecified “responsive actions” if the White House occupant follows through on his pledge, adding that the country was “fearless” of a potential commercial battle.

On Friday, Donald Trump hit back at China’s decision to reinforce its rules for exports of rare earths, accusing Beijing of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he warned to cancel a planned summit with Beijing’s head of state Xi Jinping, which was set for a meeting in Seoul before the month ends.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 share index dropping over two and a half percent, marking its largest decline since April.

These statements renewed fears of a trade conflict between the United States and China.

This past spring, the respective governments had consented to drop triple-digit tariffs on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

Consequently, US tariffs on products from China incurring an extra thirty percent tariff compared with the year’s onset, while US goods entering the country are subject to a ten percent duty.

Beijing’s recent statements – published by the relevant government department in the format of formal replies to press queries – mirrored terminology from the zenith of the latest commercial tensions.

The remarks condemned United States controls on semiconductors and chips while supporting China’s own export controls on rare earth minerals as “routine measures” to ensure state interests and that of the global community.

Their representative remarked that for “many years”, the United States had “broadened the definition” of state security, misused overseas sale restrictions and “implemented” discriminatory practices against China.

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

“China’s position on a import duty dispute has always been consistent: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government revealed it was strengthening overseas sale regulations on rare earth minerals and additional substances essential to advanced tech manufacturing.

The action was viewed as a significant step, as the nation refines about 90% of the world’s rare earths, which are utilized in items such as photovoltaic modules and handheld devices.

Latest statements from the US and China are being seen by observers as a strategy of enhancing bargaining power prior to forthcoming discussions.

Is not yet known whether a summit between the former president and China’s leader, planned at a high-level meeting in Seoul before month’s end, will still proceed.