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The former US president’s latest ultimatum to introduce an extra 100% tariff on products from China has been described as a “typical example” of US double standards, as stated by the China’s leadership.

A representative of the ministry further commented that the nation could implement its own unspecified “retaliatory steps” if the US President follows through on his warning, adding that the country was “fearless” of a looming trade war.

Last Friday, the former president responded at the Chinese government’s action to reinforce its rules for exports of critical elements, charging the Chinese leadership of “turning aggressive” and attempting to hold the world “captive”.

He also vowed to pull out of a arranged talks with China’s President Xi, which was set for a summit in Seoul later this month.

His statements on that day shook stock exchanges, with the S&P 500 share index falling by 2.7%, marking its largest decline since earlier this year.

These statements renewed fears of a trade conflict between the two economic giants.

Earlier this year, the both nations had agreed to eliminate triple-digit tariffs on each other’s products, which had led to concerns of commerce ceasing between the economic powers.

Consequently, US tariffs on products from China subject to an added 30% levy compared with the year’s onset, while American products entering the country are subject to a import levy.

China’s latest remarks – issued by the relevant government department in the manner of written responses to media inquiries – echoed rhetoric from the height of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while justifying China’s own restrictions on exports on key elements as “standard procedures” to ensure domestic safety and that of all nations.

The official remarked that for “a long time”, the United States had “expanded the interpretation” of state security, exploited foreign shipment regulations and “implemented” discriminatory practices against China.

“Resorting to import duty warnings is not the proper method to engage with China,” their representative stated.

“Beijing’s stance” on a tariff war has remained steady: we wish to avoid one, but we are fearless of one.”

The previous week, Beijing announced it was tightening overseas sale regulations on rare earths and other materials vital for advanced tech manufacturing.

This was seen as a key move, as the nation refines about the vast majority of the planet’s critical minerals, which are employed in goods such as solar panels and smartphones.

The recent comments from both governments are being interpreted by observers as a strategy of strengthening positions in preparation for forthcoming discussions.

Remains uncertain whether a summit between Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea before month’s end, will go ahead.