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Donald Trump’s most recent ultimatum to enforce an extra full import duty on items imported from China has been labeled a “typical example” of US double standards, according to the China’s leadership.

A representative of the ministry further commented that China could introduce its own unspecified “retaliatory steps” if the White House occupant follows through on his pledge, noting that the country was “fearless” of a looming trade war.

Last Friday, the former president retaliated at China’s decision to reinforce its policies for overseas sales of critical elements, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “hostage”.

Additionally, he vowed to pull out of a scheduled talks with China’s President Xi, which was set for a conference in the Republic of Korea before the month ends.

His statements on Friday rattled stock exchanges, with the benchmark US stock index closing down 2.7%, marking its steepest fall since April.

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

In May, the both nations had agreed to eliminate significant levies on each other’s products, which had raised the prospect of commerce ceasing between the two nations.

This left, United States levies on products from China subject to an additional 30% levy compared with the year’s onset, while American products entering the Chinese market face a import levy.

Beijing’s recent statements – issued by the Commerce Ministry in the format of formal replies to press queries – mirrored rhetoric from the height of the latest commercial tensions.

Officials denounced American limits on exports on semiconductors and chips while defending the country’s own export controls on rare earth minerals as “routine measures” to protect national security and that of every country.

The official stated that for “an extended period”, the America had “broadened the definition” of domestic safety, exploited export control measures and “enforced” biased policies against Beijing.

“Using” trade levy ultimatums is not the proper method to deal with Beijing,” their representative said.

“China’s position on a trade conflict has consistently been consistent: we are not seeking one, but we are not afraid of one.”

The previous week, the Chinese government announced it was strengthening export controls on rare earths and further resources critical for high-technology production.

This was seen as a key move, as the state processes about 90% of the global rare earth supply, which are utilized in products such as renewable energy components and handheld devices.

Latest statements from both governments are being viewed by analysts as a means of bolstering negotiating stances in preparation for upcoming negotiations.

Is not yet known whether a meeting between Donald Trump and China’s leader, expected at a conference in Seoul in the coming weeks, will take place as planned.