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The former US president’s most recent ultimatum to enforce an additional 100% tariff on products from China has been labeled a “prime illustration” of US double standards, according to the Beijing administration.

A representative of the ministry additionally remarked that the nation could implement its own undisclosed “responsive actions” if the US President carries out his pledge, adding that the country was “fearless” of a possible trade war.

This past Friday, the former president responded at the Chinese government’s action to strengthen its regulations for exports of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “under its control”.

He also threatened to pull out of a arranged summit with Chinese leader Xi Jinping, which was expected to take place during a meeting in South Korea later this month.

His statements on last Friday unsettled financial markets, with the S&P 500 share index closing down nearly three percent, marking its largest decline since earlier this year.

These statements renewed apprehensions of a trade war between the United States and China.

This past spring, the respective governments had reached an agreement to drop significant levies on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, United States levies on Chinese goods incurring an additional import tax compared with the start of the year, while items from the United States entering the country are subject to a import levy.

Beijing’s recent statements – released by the Ministry of Commerce in the format of written responses to journalist’s questions – echoed terminology from the peak of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own export controls on rare earth minerals as “routine measures” to ensure national security and that of all nations.

The official said that for “many years”, the United States had “broadened the definition” of state security, exploited foreign shipment regulations and “adopted biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the proper method to engage with China,” the official stated.

“China’s position on a tariff war has remained consistent: we do not want one, but we are unafraid of one.”

The previous week, Beijing declared it was tightening foreign shipment restrictions on key elements and additional substances essential to cutting-edge industry.

The action was viewed as a important measure, as the country refines about 90% of the global rare earth supply, which are used in goods such as solar panels and handheld devices.

New remarks from the US and China are being seen by analysts as a strategy of bolstering negotiating stances in preparation for upcoming negotiations.

Remains uncertain whether a summit between the former president and China’s leader, planned at a high-level meeting in South Korea later this month, will go ahead.