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Donald Trump’s most recent ultimatum to enforce an additional full import duty on products from China has been called a “classic case” of US double standards, according to the Chinese government.

A Commerce Ministry spokesperson also stated that China could implement its own unrevealed “retaliatory steps” if the US President follows through on his pledge, emphasizing that the country was “fearless” of a looming trade war.

This past Friday, Donald Trump responded at the Chinese government’s action to strengthen its policies for overseas sales of rare earths, charging China of “becoming very hostile” and attempting to hold the global community “under its control”.

He also vowed to withdraw from a planned summit with Beijing’s head of state President Xi, which was arranged for a summit in Seoul later this month.

His statements on Friday rattled stock exchanges, with the S&P 500 share index falling by nearly three percent, marking its steepest fall since earlier this year.

The president’s words renewed apprehensions of a trade war between the US and China.

In May, the both nations had reached an agreement to remove significant levies on each other’s goods, which had led to concerns of trade halting between the two nations.

This left, United States levies on Chinese imports subject to an extra import tax compared with the year’s onset, while American products entering China are subject to a 10% tariff.

Beijing’s recent statements – issued by the Commerce Ministry in the form of formal replies to media inquiries – mirrored rhetoric from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on electronic components while defending China’s own overseas sale regulations on key elements as “standard procedures” to ensure national security and that of the global community.

The spokesperson remarked that for “many years”, the America had “broadened the definition” of state security, exploited overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the right way to engage with China,” their representative stated.

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

The previous week, China revealed it was reinforcing overseas sale regulations on rare earths and additional substances essential to advanced tech manufacturing.

This was seen as a significant step, as the state 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 some as a means of enhancing bargaining power in preparation for forthcoming discussions.

Is not yet known whether a meeting between the former president and China’s leader, planned at a summit in the Republic of Korea before month’s end, will take place as planned.