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Donald Trump’s latest threat to enforce an further full import duty on Chinese goods has been called a “classic case” of US double standards, according to the Beijing administration.

A representative of the ministry further commented that the nation could enact its own unrevealed “retaliatory steps” if the White House occupant follows through on his pledge, adding that the country was “unafraid” of a potential trade conflict.

On Friday, the former president retaliated at the Chinese government’s action to tighten its rules for foreign shipments of rare earth minerals, accusing China of “becoming very hostile” and attempting to hold the international market “hostage”.

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

Trump’s comments on Friday unsettled global markets, with the S&P 500 dropping 2.7%, marking its biggest drop since April.

His comments renewed apprehensions of a commercial dispute between the US and China.

Earlier this year, the both nations had agreed to remove triple-digit tariffs on each other’s products, which had led to concerns of commerce ceasing between the two countries.

Consequently, US tariffs on products from China subject to an additional 30% levy compared with the year’s onset, while US goods entering the country incur a 10% tariff.

China’s latest remarks – issued by the Commerce Ministry in the form of written responses to journalist’s questions – mirrored rhetoric from the zenith of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while supporting China’s own export controls on rare earths as “normal actions” to ensure national security and that of the global community.

Their representative remarked that for “a long time”, the America had “overstretched the concept of state security, abused overseas sale restrictions and “adopted unfair treatments against Beijing.

“Resorting to trade levy ultimatums is not the correct approach to interact with the Chinese government,” the official stated.

“Beijing’s stance” on a trade conflict has consistently been unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, China revealed it was tightening overseas sale regulations on rare earths and further resources critical for cutting-edge industry.

The action was viewed as a significant step, as the state refines about ninety percent of the planet’s critical minerals, which are employed in goods such as solar panels and smartphones.

New remarks from both governments are being viewed by analysts as a method of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a talks between the former president and China’s leader, planned at a summit in the Republic of Korea before month’s end, will go ahead.