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Trump’s newest threat to impose an further 100% tariff on Chinese goods has been called a “typical example” of US double standards, according to the Chinese government.

A representative of the ministry further commented that China could introduce its own undisclosed “countermeasures” if the US President executes his warning, adding that the country was “fearless” of a possible commercial battle.

On Friday, the former president responded at Beijing’s move to tighten its rules for exports of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Additionally, he vowed to cancel a scheduled summit with Chinese leader Xi Jinping, which was set for a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on that day shook financial markets, with the benchmark US stock index dropping over two and a half percent, marking its steepest fall since last spring.

These statements renewed fears of a commercial dispute between the United States and China.

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

This left, American import duties on products from China facing an extra 30% levy compared with the start of the year, while American products entering the Chinese market face a import levy.

Beijing’s recent statements – published by the Ministry of Commerce in the manner of written responses to media inquiries – mirrored language from the zenith of the latest commercial tensions.

Officials denounced American limits on exports on electronic components while supporting Beijing’s restrictions on exports on rare earths as “normal actions” to safeguard national security and that of every country.

Their representative said that for “many years”, the United States had “expanded the interpretation” of state security, abused foreign shipment regulations and “implemented” biased policies against China.

“Resorting to import duty warnings is not the correct approach to interact with China,” their representative stated.

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

Recently, China announced it was tightening export controls on rare earth minerals and additional substances vital for advanced tech manufacturing.

This was seen as a significant step, as the state refines about the vast majority of the planet’s critical minerals, which are employed in items such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by some as a method of bolstering negotiating stances ahead of future trade talks.

It is unclear whether a summit between Donald Trump and President Xi, planned at a summit in Seoul later this month, will still proceed.