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Trump’s most recent ultimatum to introduce an extra full import duty on items imported from China has been called a “typical example” of US double standards, according to the Beijing administration.

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

On Friday, Donald Trump retaliated at China’s decision to strengthen its policies for overseas sales of rare earth minerals, alleging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

He also vowed to cancel a scheduled talks with China’s President Xi, which was set for a conference in South Korea later this month.

Trump’s comments on that day rattled stock exchanges, with the S&P 500 dropping nearly three percent, marking its biggest drop since earlier this year.

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

Earlier this year, the two sides had consented to eliminate high import duties on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

As a result, US tariffs on Chinese imports subject to an extra import tax compared with the year’s onset, while items from the United States entering China incur a import levy.

China’s latest remarks – published by the Commerce Ministry in the manner of official answers to media inquiries – echoed language from the peak of the latest commercial tensions.

The remarks condemned United States controls on electronic components while justifying the country’s own export controls on key elements as “normal actions” to ensure state interests and that of all nations.

The spokesperson said that for “a long time”, the United States had “expanded the interpretation” of state security, misused export control measures and “enforced” biased policies against Beijing.

“Resorting to tariff threats is not the right way to engage with China,” the spokesperson commented.

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

Last week, China declared it was tightening foreign shipment restrictions on rare earth minerals and further resources vital for cutting-edge industry.

This was seen as a important measure, as the nation handles about 90% of the planet’s critical minerals, which are utilized in goods such as renewable energy components and smartphones.

Latest statements from the US and China are being seen by some as a means of enhancing bargaining power ahead of upcoming negotiations.

It is unclear whether a meeting between Donald Trump and Xi Jinping, scheduled at a summit in South Korea before month’s end, will take place as planned.