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Trump’s most recent warning to impose an further full import duty on Chinese goods has been described as a “typical example” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own unspecified “retaliatory steps” if the White House occupant follows through on his threat, noting that the country was “not afraid” of a possible trade war.

This past Friday, the former president retaliated at Beijing’s move to reinforce its regulations for exports of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a arranged summit with Chinese leader Xi Jinping, which was set for a meeting in South Korea later this month.

The former president’s remarks on Friday shook financial markets, with the benchmark US stock index falling by nearly three percent, marking its largest decline since last spring.

His comments renewed fears of a trade war between the two economic giants.

This past spring, the two sides had consented to remove high import duties on each other’s imports, which had raised the prospect of trade halting between the two nations.

Consequently, United States levies on Chinese imports facing an additional import tax compared with the year’s onset, while US goods entering the Chinese market incur a ten percent duty.

The most recent comments from China – released by the relevant government department in the form of written responses to press queries – echoed rhetoric from the peak of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while supporting the country’s own restrictions on exports on key elements as “routine measures” to ensure state interests and that of the global community.

Their representative remarked that for “many years”, the America had “overstretched the concept of state security, exploited overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Resorting to tariff threats is not the right way to deal with China,” their representative commented.

“China’s position on a import duty dispute has consistently been unchanging: we wish to avoid one, but we are not afraid of one.”

The previous week, Beijing announced it was tightening export controls on key elements and additional substances essential to high-technology production.

The action was viewed as a important measure, as the country handles about the vast majority of the planet’s critical minerals, which are utilized in products such as renewable energy components and handheld devices.

New remarks from Washington and Beijing are being interpreted by analysts as a means of enhancing bargaining power ahead of upcoming negotiations.

Remains uncertain whether a summit between Trump and China’s leader, planned at a summit in Seoul in the coming weeks, will go ahead.