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The former US president’s most recent warning to impose an additional complete levy on items imported from China has been described as a “prime illustration” of US double standards, according to the Beijing administration.

A representative of the ministry also stated that China could implement its own undisclosed “retaliatory steps” if the White House occupant follows through on his warning, emphasizing that the country was “not afraid” of a looming trade conflict.

On Friday, the former president responded at China’s decision to strengthen its rules for exports of rare earth minerals, accusing China of “turning aggressive” and attempting to hold the world “captive”.

Additionally, he threatened to cancel a arranged summit with Chinese leader Xi, which was expected to take place during a summit in South Korea before the month ends.

Trump’s comments on last Friday rattled stock exchanges, with the benchmark US stock index closing down 2.7%, marking its largest decline since earlier this year.

The president’s words renewed fears of a trade conflict between the two economic giants.

Earlier this year, the both nations had consented to remove high import duties on each other’s imports, which had raised the prospect of commerce ceasing between the two nations.

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

Beijing’s recent statements – released by the Ministry of Commerce in the manner of formal replies to journalist’s questions – echoed language from the peak of the latest commercial tensions.

Officials denounced American limits on exports on semiconductors and chips while justifying China’s own restrictions on exports on rare earths as “normal actions” to safeguard domestic safety and that of the global community.

Their representative stated that for “many years”, the America had “broadened the definition” of national security, exploited foreign shipment regulations and “implemented” discriminatory practices against the Chinese nation.

“Using” trade levy ultimatums is not the right way to interact with China,” their representative commented.

“Beijing’s stance” on a tariff war has remained consistent: we are not seeking one, but we are fearless of one.”

Last week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earth minerals and further resources critical for high-technology production.

The action was viewed as a important measure, as the country handles about ninety percent of the global rare earth supply, which are used in products such as photovoltaic modules and smartphones.

The recent comments from the US and China are being interpreted by observers as a means of enhancing bargaining power ahead of forthcoming discussions.

Is not yet known whether a summit between Trump and China’s leader, scheduled at a high-level meeting in the Republic of Korea later this month, will go ahead.