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The former US president’s latest warning to enforce an extra full import duty on items imported from China has been labeled a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry further commented that the nation could introduce its own unrevealed “retaliatory steps” if the US President carries out his warning, noting that the country was “not afraid” of a potential commercial battle.

On Friday, Donald Trump responded at the Chinese government’s action to reinforce its policies for overseas sales of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “captive”.

Additionally, he vowed to withdraw from a arranged summit with Chinese leader Xi, which was expected to take place during a summit in Seoul before the month ends.

The former president’s remarks on last Friday shook financial markets, with the benchmark US stock index falling by 2.7%, marking its largest decline since earlier this year.

The president’s words renewed concerns of a trade war between the two economic giants.

This past spring, the respective governments had agreed to drop high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, American import duties on products from China facing an added thirty percent tariff compared with the start of the year, while American products entering the country incur a import levy.

Beijing’s recent statements – released by the relevant government department in the form of written responses to journalist’s questions – mirrored terminology from the height of the recent trade conflict.

They criticised American limits on exports on semiconductors and chips while supporting Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to protect national security and that of every country.

The spokesperson stated that for “an extended period”, the United States had “overstretched the concept of state security, abused overseas sale restrictions and “enforced” biased policies against Beijing.

“Resorting to import duty warnings is not the right way to interact with Beijing,” their representative said.

“Beijing’s stance” on a import duty dispute has remained unchanging: we wish to avoid one, but we are unafraid of one.”

Recently, China declared it was strengthening foreign shipment restrictions on key elements and other materials vital for advanced tech manufacturing.

The action was viewed as a important measure, as the nation refines about ninety percent of the world’s rare earths, which are utilized in goods such as renewable energy components and smartphones.

Latest statements from both governments are being viewed by some as a means of strengthening positions in preparation for forthcoming discussions.

Is not yet known whether a talks between Trump and Xi Jinping, scheduled at a summit in Seoul in the coming weeks, will take place as planned.