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The former US president’s most recent ultimatum to impose an extra full import duty on Chinese goods has been labeled a “classic case” of US double standards, according to the Beijing administration.

A Commerce Ministry spokesperson further commented that China could implement its own undisclosed “countermeasures” if the White House occupant carries out his threat, noting that the country was “fearless” of a looming trade conflict.

On Friday, Donald Trump retaliated at China’s decision to tighten its regulations for overseas sales of critical elements, alleging the Chinese leadership of “turning aggressive” and attempting to hold the global community “hostage”.

He also vowed to cancel a planned summit with Beijing’s head of state Xi Jinping, which was set for a meeting in South Korea in the coming weeks.

The former president’s remarks on last Friday rattled financial markets, with the S&P 500 share index closing down nearly three percent, marking its steepest fall since last spring.

His comments revived apprehensions of a trade conflict between the US and China.

In May, the both nations had consented to drop significant levies on each other’s products, which had led to concerns of commerce ceasing between the two countries.

This left, American import duties on products from China incurring an added thirty percent tariff compared with the start of the year, while US goods entering the country incur a 10% tariff.

China’s latest remarks – released by the Commerce Ministry in the manner of written responses to journalist’s questions – mirrored terminology from the zenith of the latest commercial tensions.

Officials denounced American limits on exports on chips and semi-conductors while supporting Beijing’s overseas sale regulations on key elements as “routine measures” to protect state interests and that of every country.

Their representative said that for “many years”, the US had “broadened the definition” of state security, misused foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Turning to” trade levy ultimatums is not the proper method to interact with the Chinese government,” the spokesperson commented.

“The nation’s view” on a trade conflict has always been unchanging: we are not seeking one, but we are fearless of one.”

Recently, Beijing announced it was tightening overseas sale regulations on rare earth minerals and additional substances vital for cutting-edge industry.

This was seen as a important measure, as the country refines about the vast majority of the world’s rare earths, which are employed in items such as renewable energy components and mobile phones.

The recent comments from Washington and Beijing are being interpreted by some as a method of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a summit between the former president and President Xi, expected at a conference in South Korea before month’s end, will still proceed.