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Donald Trump’s latest threat to enforce an further full import duty on Chinese goods has been described as a “typical example” of US double standards, according to the Chinese government.

A official from China’s Commerce Ministry further commented that China could enact its own undisclosed “countermeasures” if the American leader follows through on his threat, adding that the country was “unafraid” of a looming trade war.

This past Friday, Donald Trump retaliated at Beijing’s move to strengthen its rules for exports of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he threatened to pull out of a planned summit with Beijing’s head of state President Xi, which was arranged for a conference in South Korea in the coming weeks.

Trump’s comments on last Friday unsettled financial markets, with the S&P 500 falling by over two and a half percent, marking its biggest drop since earlier this year.

These statements revived apprehensions of a trade war between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove significant levies on each other’s products, which had created the possibility of trade halting between the two nations.

Consequently, US tariffs on Chinese goods incurring an extra import tax compared with the year’s onset, while items from the United States entering China face a 10% tariff.

The most recent comments from China – published by the Commerce Ministry in the manner of official answers to media inquiries – echoed rhetoric from the height of the ongoing trade dispute.

Officials denounced United States controls on chips and semi-conductors while justifying China’s own restrictions on exports on key elements as “normal actions” to protect domestic safety and that of every country.

Their representative stated that for “many years”, the US had “expanded the interpretation” of national security, abused export control measures and “enforced” biased policies against Beijing.

“Resorting to import duty warnings is not the proper method to interact with Beijing,” the spokesperson said.

“Beijing’s stance” on a import duty dispute has remained consistent: we wish to avoid one, but we are fearless of one.”

Last week, the Chinese government revealed it was reinforcing overseas sale regulations on rare earths and other materials vital for advanced tech manufacturing.

This move was regarded as a significant step, as the nation processes about the vast majority of the planet’s critical minerals, which are employed in items such as renewable energy components and smartphones.

The recent comments from the US and China are being seen by some as a means of bolstering negotiating stances ahead of future trade talks.

It is unclear whether a summit between the former president and China’s leader, expected at a high-level meeting in the Republic of Korea in the coming weeks, will still proceed.