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Trump’s latest warning to introduce an further 100% tariff on products from China has been labeled a “classic case” of US double standards, per the Chinese government.

A representative of the ministry also stated that the nation could enact its own undisclosed “retaliatory steps” if the White House occupant follows through on his warning, emphasizing that the country was “unafraid” of a possible trade war.

On Friday, the former president retaliated at Beijing’s move to strengthen its policies for exports of critical elements, charging Beijing of “becoming very hostile” and attempting to hold the global community “under its control”.

Additionally, he warned to withdraw from a scheduled summit with Beijing’s head of state Xi Jinping, which was expected to take place during a summit in South Korea in the coming weeks.

His statements on Friday rattled stock exchanges, with the S&P 500 share index falling by 2.7%, marking its largest decline since April.

The president’s words renewed apprehensions of a commercial dispute between the US and China.

Earlier this year, the two sides had reached an agreement to drop triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the economic powers.

Consequently, American import duties on Chinese goods subject to an extra 30% levy compared with the start of the year, while American products entering the Chinese market are subject to a 10% tariff.

China’s latest remarks – published by the Commerce Ministry in the format of formal replies to media inquiries – echoed terminology from the zenith of the recent trade conflict.

They criticised United States controls on electronic components while supporting China’s own export controls on rare earths as “routine measures” to safeguard domestic safety and that of the global community.

The spokesperson remarked that for “an extended period”, the United States had “expanded the interpretation” of state security, misused foreign shipment regulations and “enforced” biased policies against China.

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

“China’s position on a import duty dispute has remained steady: we do not want one, but we are unafraid of one.”

The previous week, Beijing announced it was tightening foreign shipment restrictions on key elements and other materials vital for high-technology production.

This was seen as a important measure, as the nation handles about ninety percent of the planet’s critical minerals, which are used in goods such as solar panels and mobile phones.

The recent comments from both governments are being seen by observers as a method of enhancing bargaining power prior to future trade talks.

It is unclear whether a meeting between Donald Trump and President Xi, scheduled at a high-level meeting in South Korea later this month, will still proceed.