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The former US president’s latest warning to enforce an further 100% tariff on products from China has been called a “typical example” of US double standards, per the Chinese government.

A representative of the ministry also stated that China could introduce its own unspecified “retaliatory steps” if the US President follows through on his warning, noting that the country was “not afraid” of a looming commercial battle.

On Friday, Trump retaliated at China’s decision to reinforce its rules for exports of rare earths, charging China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Additionally, he threatened to pull out of a planned summit with China’s President Xi, which was arranged for a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on Friday shook stock exchanges, with the benchmark US stock index closing down over two and a half percent, marking its largest decline since April.

His comments revived apprehensions of a commercial dispute between the two economic giants.

In May, the respective governments had reached an agreement to remove high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the two countries.

This left, American import duties on products from China subject to an additional import tax compared with the start of the year, while US goods entering the Chinese market incur a 10% tariff.

China’s latest remarks – released by the Ministry of Commerce in the form of official answers to press queries – reflected terminology from the peak of the latest commercial tensions.

They criticised United States controls on chips and semi-conductors while defending China’s own export controls on rare earths as “standard procedures” to ensure domestic safety and that of all nations.

The official remarked that for “an extended period”, the US had “overstretched the concept of state security, abused export control measures and “adopted discriminatory practices against Beijing.

“Turning to” tariff threats is not the proper method to interact with the Chinese government,” the spokesperson commented.

“Beijing’s stance” on a import duty dispute has remained unchanging: we do not want one, but we are not afraid of one.”

Last week, China revealed it was reinforcing export controls on rare earths and other materials essential to cutting-edge industry.

This was seen as a significant step, as the country handles about the vast majority of the global rare earth supply, which are employed in products such as photovoltaic modules and handheld devices.

The recent comments from Washington and Beijing are being interpreted by observers as a method of strengthening positions prior to future trade talks.

Remains uncertain whether a meeting between Donald Trump and President Xi, expected at a conference in the Republic of Korea later this month, will go ahead.