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Trump’s latest warning to impose an additional 100% tariff on products from China has been labeled a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could enact its own unrevealed “countermeasures” if the White House occupant executes his threat, noting that the country was “unafraid” of a looming trade conflict.

On Friday, Trump hit back at Beijing’s move to reinforce its regulations for exports of rare earth minerals, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “hostage”.

Furthermore, he vowed to withdraw from a arranged meeting with Chinese leader Xi, which was arranged for a meeting in Seoul before the month ends.

The former president’s remarks on last Friday unsettled global markets, with the S&P 500 dropping nearly three percent, marking its biggest drop since last spring.

His comments renewed concerns of a trade conflict between the two economic giants.

This past spring, the respective governments had reached an agreement to remove significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the two nations.

As a result, American import duties on Chinese imports incurring an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the Chinese market face a import levy.

Beijing’s recent statements – issued by the Commerce Ministry in the form of formal replies to journalist’s questions – mirrored terminology from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on semiconductors and chips while supporting the country’s own overseas sale regulations on key elements as “standard procedures” to ensure domestic safety and that of the global community.

Their representative stated that for “a long time”, the United States had “broadened the definition” of domestic safety, misused export control measures and “adopted discriminatory practices against Beijing.

“Resorting to import duty warnings is not the correct approach to deal with Beijing,” the official stated.

“The nation’s view” on a tariff war has always been consistent: we wish to avoid one, but we are not afraid of one.”

The previous week, China announced it was tightening export controls on key elements and other materials vital for advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about 90% of the planet’s critical minerals, which are utilized in goods such as renewable energy components and handheld devices.

New remarks from Washington and Beijing are being seen by observers as a strategy of bolstering negotiating stances prior to forthcoming discussions.

Remains uncertain whether a meeting between the former president and President Xi, planned at a conference in South Korea in the coming weeks, will take place as planned.