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

A Commerce Ministry spokesperson additionally remarked that China could introduce its own unspecified “countermeasures” if the American leader carries out his threat, emphasizing that the country was “not afraid” of a possible trade war.

On Friday, the former president retaliated at the Chinese government’s action to strengthen its rules for foreign shipments of rare earths, alleging China of “becoming very hostile” and attempting to hold the global community “captive”.

He also threatened to withdraw from a scheduled talks with Beijing’s head of state President Xi, which was expected to take place during a conference in Seoul before the month ends.

His statements on last Friday rattled financial markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since last spring.

The president’s words renewed fears of a trade conflict between the United States and China.

This past spring, the respective governments had reached an agreement to eliminate triple-digit tariffs on each other’s imports, which had raised the prospect of trade halting between the economic powers.

Consequently, US tariffs on products from China subject to an extra import tax compared with the start of the year, while items from the United States entering China are subject to a ten percent duty.

Beijing’s recent statements – issued by the relevant government department in the format of written responses to press queries – echoed language from the height of the latest commercial tensions.

They criticised American limits on exports on electronic components while supporting Beijing’s overseas sale regulations on rare earths as “normal actions” to ensure national security and that of the global community.

The official remarked that for “an extended period”, the United States had “broadened the definition” of state security, abused export control measures and “implemented” discriminatory practices against Beijing.

“Using” tariff threats is not the right way to engage with the Chinese government,” the spokesperson stated.

“The nation’s view” on a tariff war has remained consistent: we wish to avoid one, but we are fearless of one.”

Last week, China announced it was tightening overseas sale regulations on rare earth minerals and further resources vital for advanced tech manufacturing.

The action was viewed as a significant step, as the country processes about 90% of the global rare earth supply, which are employed in items such as renewable energy components and mobile phones.

The recent comments from both governments are being viewed by observers as a means of enhancing bargaining power ahead of future trade talks.

It is unclear whether a summit between the former president and President Xi, expected at a summit in South Korea later this month, will take place as planned.