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Trump’s latest threat to enforce an additional complete levy on products from China has been described as a “typical example” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unrevealed “retaliatory steps” if the White House occupant carries out his pledge, adding that the country was “not afraid” of a looming trade conflict.

On Friday, the former president responded at the Chinese government’s action to strengthen its policies for foreign shipments of critical elements, accusing Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he vowed to cancel a planned talks with Chinese leader President Xi, which was arranged for a conference in Seoul later this month.

His statements on Friday shook financial markets, with the S&P 500 share index falling by over two and a half percent, marking its steepest fall since April.

His comments reignited concerns of a commercial dispute between the United States and China.

Earlier this year, the respective governments had agreed to remove high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

This left, United States levies on Chinese goods subject to an additional thirty percent tariff compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

The most recent comments from China – released by the relevant government department in the form of written responses to media inquiries – echoed terminology from the zenith of the latest commercial tensions.

They criticised US export restrictions on chips and semi-conductors while defending the country’s own restrictions on exports on rare earth minerals as “routine measures” to ensure domestic safety and that of the global community.

The spokesperson remarked that for “many years”, the US had “broadened the definition” of domestic safety, abused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Using” tariff threats is not the proper method to interact with China,” the official said.

“China’s position on a import duty dispute has consistently been steady: we wish to avoid one, but we are not afraid of one.”

The previous week, the Chinese government declared it was reinforcing export controls on key elements and additional substances vital for cutting-edge industry.

This was seen as a important measure, as the state refines about ninety percent of the global rare earth supply, which are used in items such as solar panels and smartphones.

The recent comments from the US and China are being viewed by observers as a method of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a talks between Donald Trump and President Xi, expected at a summit in the Republic of Korea later this month, will still proceed.