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Donald Trump’s latest threat to impose an extra full import duty on products from China has been labeled a “typical example” of US double standards, per the Beijing administration.

A representative of the ministry further commented that China could introduce its own unrevealed “retaliatory steps” if the US President executes his warning, emphasizing that the country was “fearless” of a possible trade conflict.

This past Friday, Donald Trump retaliated at China’s decision to reinforce its rules for exports of rare earth minerals, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “captive”.

He also vowed to pull out of a planned summit with China’s President Xi Jinping, which was expected to take place during a summit in Seoul in the coming weeks.

His statements on last Friday unsettled global markets, with the benchmark US stock index falling by over two and a half percent, marking its biggest drop since April.

The president’s words renewed fears of a commercial dispute between the two economic giants.

This past spring, the two sides had agreed to eliminate triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two nations.

As a result, American import duties on products from China facing an added 30% levy compared with the start of the year, while American products entering China incur a 10% tariff.

China’s latest remarks – published by the Ministry of Commerce in the format of official answers to press queries – reflected rhetoric from the peak of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while defending the country’s own restrictions on exports on rare earth minerals as “routine measures” to protect domestic safety and that of the global community.

Their representative stated that for “many years”, the America had “overstretched the concept of state security, misused foreign shipment regulations and “adopted biased policies against Beijing.

“Resorting to trade levy ultimatums is not the correct approach to deal with Beijing,” their representative said.

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

The previous week, the Chinese government announced it was reinforcing foreign shipment restrictions on key elements and other materials essential to advanced tech manufacturing.

This was seen as a significant step, as the nation refines about 90% of the global rare earth supply, which are employed in products such as solar panels and mobile phones.

New remarks from both governments are being interpreted by observers as a means of strengthening positions in preparation for forthcoming discussions.

Is not yet known whether a meeting between the former president and President Xi, planned at a high-level meeting in South Korea before month’s end, will still proceed.