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The former US president’s latest threat to introduce an further 100% tariff on items imported from China has been called a “prime illustration” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that China could enact its own undisclosed “retaliatory steps” if the American leader executes his threat, adding that the country was “fearless” of a potential trade war.

Last Friday, the former president hit back at Beijing’s move to strengthen its regulations for overseas sales of critical elements, charging Beijing of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

He also threatened to withdraw from a planned talks with Chinese leader Xi, which was arranged for a meeting in South Korea later this month.

The former president’s remarks on that day unsettled stock exchanges, with the S&P 500 dropping nearly three percent, marking its biggest drop since earlier this year.

These statements renewed fears of a commercial dispute between the United States and China.

In May, the both nations had consented to drop high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

Consequently, American import duties on Chinese goods incurring an additional thirty percent tariff compared with the year’s onset, while US goods entering the country face a import levy.

Beijing’s recent statements – released by the Ministry of Commerce in the format of written responses to journalist’s questions – reflected rhetoric from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on electronic components while justifying the country’s own export controls on rare earth minerals as “routine measures” to safeguard national security and that of all nations.

The official said that for “an extended period”, the US had “expanded the interpretation” of state security, exploited foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Resorting to trade levy ultimatums is not the proper method to interact with China,” their representative said.

“The nation’s view” on a import duty dispute has remained consistent: we do not want one, but we are fearless of one.”

Recently, the Chinese government declared it was tightening foreign shipment restrictions on rare earth minerals and further resources vital for high-technology production.

The action was viewed as a important measure, as the country processes about 90% of the world’s rare earths, which are employed in goods such as renewable energy components and smartphones.

Latest statements from the US and China are being seen by observers as a means of enhancing bargaining power in preparation for upcoming negotiations.

Remains uncertain whether a summit between the former president and President Xi, planned at a summit in South Korea before month’s end, will take place as planned.