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Donald Trump’s newest ultimatum to introduce an further full import duty on items imported from China has been described as a “classic case” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could introduce its own unrevealed “retaliatory steps” if the White House occupant executes his warning, emphasizing that the country was “fearless” of a possible trade war.

This past Friday, Trump hit back at China’s decision to reinforce its rules for overseas sales of critical elements, alleging Beijing of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he vowed to withdraw from a arranged summit with Beijing’s head of state President Xi, which was expected to take place during a conference in South Korea later this month.

The former president’s remarks on Friday rattled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its steepest fall since April.

The president’s words reignited fears of a trade conflict between the US and China.

This past spring, the both nations had consented to eliminate triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

As a result, American import duties on products from China subject to an added 30% levy compared with the year’s onset, while items from the United States entering the country face a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the form of written responses to media inquiries – reflected rhetoric from the height of the ongoing trade dispute.

Officials denounced American limits on exports on electronic components while defending China’s own restrictions on exports on key elements as “normal actions” to protect state interests and that of the global community.

Their representative stated that for “many years”, the US had “overstretched the concept of state security, misused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Resorting to import duty warnings is not the correct approach to engage with Beijing,” the spokesperson said.

“China’s position on a import duty dispute has remained unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing declared it was tightening export controls on rare earth minerals and further resources critical for advanced tech manufacturing.

This was seen as a important measure, as the state refines about 90% of the world’s rare earths, which are used in products such as solar panels and mobile phones.

The recent comments from both governments are being interpreted by some as a means of enhancing bargaining power in preparation for forthcoming discussions.

It is unclear whether a summit between the former president and China’s leader, expected at a summit in Seoul in the coming weeks, will still proceed.