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The former US president’s newest threat to introduce an additional complete levy on items imported from China has been described as a “typical example” of US double standards, according to the Beijing administration.

A Commerce Ministry spokesperson further commented that the nation could introduce its own undisclosed “countermeasures” if the White House occupant executes his warning, noting that the country was “not afraid” of a potential trade war.

Last Friday, the former president hit back at China’s decision to strengthen its policies for overseas sales of rare earth minerals, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

Furthermore, he vowed to withdraw from a scheduled summit with Beijing’s head of state Xi Jinping, which was set for a summit in Seoul before the month ends.

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

The president’s words revived concerns of a trade conflict between the United States and China.

Earlier this year, the both nations had agreed to remove triple-digit tariffs on each other’s imports, which had led to concerns of trade halting between the economic powers.

Consequently, US tariffs on Chinese goods subject to an additional 30% levy compared with the start of the year, while items from the United States entering the country incur a ten percent duty.

China’s latest remarks – published by the Ministry of Commerce in the manner of written responses to journalist’s questions – echoed terminology from the height of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while justifying the country’s own restrictions on exports on rare earth minerals as “routine measures” to protect national security and that of every country.

The spokesperson remarked that for “an extended period”, the US had “overstretched the concept of state security, abused foreign shipment regulations and “adopted discriminatory practices against the Chinese nation.

“Resorting to import duty warnings is not the proper method to deal with the Chinese government,” the spokesperson said.

“The nation’s view” on a trade conflict has remained steady: we wish to avoid one, but we are not afraid of one.”

The previous week, Beijing announced it was strengthening overseas sale regulations on rare earths and additional substances vital for cutting-edge industry.

The action was viewed as a key move, as the state handles about 90% of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and handheld devices.

The recent comments from the US and China are being interpreted by observers as a means of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a talks between Trump and Xi Jinping, scheduled at a conference in South Korea before month’s end, will take place as planned.