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Trump’s newest ultimatum to enforce an further 100% tariff on Chinese goods has been described as a “classic case” of US double standards, per the China’s leadership.

A representative of the ministry also stated that Beijing could implement its own undisclosed “retaliatory steps” if the White House occupant follows through on his pledge, noting that the country was “unafraid” of a possible commercial battle.

On Friday, the former president hit back at the Chinese government’s action to reinforce its policies for overseas sales of rare earths, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “under its control”.

Furthermore, he threatened to cancel a scheduled summit with Beijing’s head of state Xi Jinping, which was arranged for a summit in South Korea in the coming weeks.

The former president’s remarks on Friday shook global markets, with the benchmark US stock index dropping 2.7%, marking its steepest fall since April.

These statements revived fears of a commercial dispute between the two economic giants.

Earlier this year, the two sides had agreed to remove triple-digit tariffs on each other’s imports, which had created the possibility of bilateral trade stopping between the two nations.

This left, American import duties on Chinese goods subject to an additional import tax compared with the start of the year, while US goods entering the Chinese market incur a import levy.

China’s latest remarks – published by the relevant government department in the form of written responses to media inquiries – reflected rhetoric from the zenith of the recent trade conflict.

They criticised American limits on exports on electronic components while defending China’s own restrictions on exports on key elements as “normal actions” to ensure domestic safety and that of the global community.

The spokesperson stated that for “many years”, the United States had “overstretched the concept of national security, abused export control measures and “adopted discriminatory practices against China.

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

“China’s position on a trade conflict has consistently been unchanging: we do not want one, but we are not afraid of one.”

Recently, the Chinese government declared it was tightening export controls on rare earths and further resources vital for high-technology production.

This move was regarded as a significant step, as the state handles about ninety percent of the global rare earth supply, which are employed in goods such as renewable energy components and smartphones.

Latest statements from both governments are being interpreted by observers as a means of bolstering negotiating stances prior to upcoming negotiations.

It is unclear whether a meeting between the former president and China’s leader, scheduled at a conference in Seoul in the coming weeks, will go ahead.