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The former US president’s newest threat to enforce an extra complete levy on Chinese goods has been described as a “typical example” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry further commented that China could implement its own undisclosed “retaliatory steps” if the US President executes his threat, emphasizing that the country was “fearless” of a possible trade conflict.

Last Friday, the former president retaliated at Beijing’s move to strengthen its rules for overseas sales of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

Furthermore, he warned to pull out of a planned talks with Chinese leader Xi Jinping, which was arranged for a meeting in South Korea before the month ends.

His statements on that day rattled financial markets, with the benchmark US stock index dropping 2.7%, marking its largest decline since earlier this year.

These statements renewed apprehensions of a trade conflict between the two economic giants.

This past spring, the respective governments had agreed to eliminate triple-digit tariffs on each other’s imports, which had raised the prospect of commerce ceasing between the two nations.

Consequently, US tariffs on products from China facing an extra 30% levy compared with the year’s onset, while US goods entering China incur a 10% tariff.

Beijing’s recent statements – released by the Commerce Ministry in the manner of written responses to media inquiries – mirrored terminology from the zenith of the recent trade conflict.

Officials denounced US export restrictions on electronic components while justifying Beijing’s overseas sale regulations on key elements as “standard procedures” to protect state interests and that of all nations.

The official stated that for “many years”, the US had “expanded the interpretation” of national security, exploited overseas sale restrictions and “enforced” biased policies against Beijing.

“Turning to” tariff threats is not the right way to engage with China,” the spokesperson stated.

“Beijing’s stance” on a trade conflict has consistently been unchanging: we are not seeking one, but we are fearless of one.”

Last week, Beijing revealed it was reinforcing overseas sale regulations on rare earth minerals and further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the country handles about 90% of the planet’s critical minerals, which are employed in goods such as solar panels and mobile phones.

Latest statements from both governments are being interpreted by observers as a strategy of enhancing bargaining power prior to future trade talks.

It is unclear whether a summit between Trump and President Xi, planned at a conference in Seoul in the coming weeks, will go ahead.