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The former US president’s newest threat to impose 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 enact its own unrevealed “responsive actions” if the US President carries out his pledge, adding that the country was “not afraid” of a possible commercial battle.

This past Friday, the former president retaliated at Beijing’s move to strengthen its regulations for foreign shipments of critical elements, accusing China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to withdraw from a planned talks with Beijing’s head of state Xi Jinping, which was set for a meeting in Seoul later this month.

The former president’s remarks on Friday shook stock exchanges, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since April.

These statements reignited concerns of a trade conflict between the US and China.

In May, the both nations had reached an agreement to eliminate high import duties on each other’s imports, which had created the possibility of commerce ceasing between the two nations.

This left, American import duties on products from China subject to an extra 30% levy compared with the year’s onset, while US goods entering China are subject to a 10% tariff.

The most recent comments from China – published by the Commerce Ministry in the manner of formal replies to press queries – reflected terminology from the zenith of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while supporting the country’s own export controls on rare earth minerals as “standard procedures” to ensure domestic safety and that of every country.

The spokesperson remarked that for “a long time”, the United States had “overstretched the concept of domestic safety, misused export control measures and “implemented” biased policies against Beijing.

“Using” tariff threats is not the correct approach to interact with China,” the official said.

“The nation’s view” on a trade conflict has consistently been unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, Beijing declared it was tightening foreign shipment restrictions on key elements and additional substances essential to advanced tech manufacturing.

The action was viewed as a key move, as the country refines about ninety percent of the world’s rare earths, which are utilized in items such as photovoltaic modules and handheld devices.

New remarks from the US and China are being viewed by observers as a means of enhancing bargaining power prior to upcoming negotiations.

Is not yet known whether a summit between Donald Trump and China’s leader, scheduled at a conference in the Republic of Korea in the coming weeks, will go ahead.