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Trump’s most recent threat to enforce an additional full import duty on Chinese goods has been described as a “classic case” of US double standards, per the Beijing administration.

A official from China’s Commerce Ministry further commented that China could introduce its own unrevealed “countermeasures” if the American leader follows through on his threat, emphasizing that the country was “fearless” of a looming trade war.

Last Friday, the former president responded at China’s decision to strengthen its policies for foreign shipments of critical elements, charging Beijing of “becoming very hostile” and attempting to hold the world “captive”.

He also warned to withdraw from a scheduled meeting with Beijing’s head of state President Xi, which was arranged for a conference in South Korea before the month ends.

His statements on that day shook stock exchanges, with the S&P 500 share index closing down 2.7%, marking its biggest drop since last spring.

These statements revived fears of a trade war between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove significant levies on each other’s goods, which had led to concerns of commerce ceasing between the economic powers.

As a result, American import duties on Chinese goods facing an added 30% levy compared with the start of the year, while items from the United States entering the Chinese market are subject to a 10% tariff.

China’s latest remarks – released by the Commerce Ministry in the form of written responses to press queries – mirrored terminology from the height of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while defending China’s own restrictions on exports on rare earth minerals as “standard procedures” to ensure domestic safety and that of the global community.

Their representative said that for “many years”, the US had “overstretched the concept of national security, abused foreign shipment regulations and “implemented” discriminatory practices against the Chinese nation.

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

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

Recently, Beijing announced it was tightening overseas sale regulations on rare earths and other materials critical for high-technology production.

The action was viewed as a important measure, as the country handles about 90% of the global rare earth supply, which are used in goods such as solar panels and mobile phones.

The recent comments from Washington and Beijing are being seen by some as a means of enhancing bargaining power prior to future trade talks.

Remains uncertain whether a summit between Donald Trump and China’s leader, planned at a high-level meeting in Seoul in the coming weeks, will still proceed.