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The former US president’s most recent warning to enforce an extra 100% tariff on Chinese goods has been labeled a “classic case” of US double standards, per the Beijing administration.

A representative of the ministry also stated that the nation could enact its own unspecified “retaliatory steps” if the US President follows through on his threat, adding that the country was “unafraid” of a possible trade conflict.

On Friday, the former president responded at the Chinese government’s action to tighten its regulations for overseas sales of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

Additionally, he threatened to cancel a planned talks with Chinese leader Xi Jinping, which was arranged for a conference in the Republic of Korea before the month ends.

The former president’s remarks on Friday rattled stock exchanges, with the S&P 500 falling by nearly three percent, marking its biggest drop since April.

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

Earlier this year, the both nations had agreed to eliminate significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, American import duties on Chinese goods incurring an added thirty percent tariff compared with the start of the year, while US goods entering the country incur a import levy.

Beijing’s recent statements – released by the Commerce Ministry in the form of written responses to press queries – mirrored language from the zenith of the recent trade conflict.

They criticised United States controls on chips and semi-conductors while defending China’s own overseas sale regulations on rare earth minerals as “routine measures” to protect national security and that of every country.

The official remarked that for “many years”, the US had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” unfair treatments against Beijing.

“Using” import duty warnings is not the correct approach to interact with China,” the spokesperson said.

“The nation’s view” on a tariff war has remained consistent: we do not want one, but we are fearless of one.”

The previous week, the Chinese government declared it was reinforcing export controls on rare earths and further resources critical for cutting-edge industry.

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 photovoltaic modules and handheld devices.

The recent comments from the US and China are being interpreted by some as a method of enhancing bargaining power in preparation for forthcoming discussions.

It is unclear whether a meeting between Trump and China’s leader, planned at a conference in the Republic of Korea before month’s end, will go ahead.