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Trump’s latest ultimatum to impose an additional 100% tariff on products from China has been labeled a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry further commented that the nation could implement its own unspecified “retaliatory steps” if the American leader carries out his pledge, emphasizing that the country was “not afraid” of a looming commercial battle.

Last Friday, Trump responded at the Chinese government’s action to reinforce its rules for exports of critical elements, charging China of “turning aggressive” and attempting to hold the world “hostage”.

He also vowed to cancel a arranged meeting with Beijing’s head of state President Xi, which was expected to take place during a conference in South Korea before the month ends.

The former president’s remarks on last Friday unsettled financial markets, with the S&P 500 share index closing down over two and a half percent, marking its steepest fall since April.

These statements reignited fears of a commercial dispute between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.

As a result, US tariffs on products from China facing an additional thirty percent tariff compared with the start of the year, while US goods entering the Chinese market incur a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the format of official answers to press queries – echoed rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned American limits on exports on semiconductors and chips while defending China’s own export controls on key elements as “normal actions” to safeguard state interests and that of all nations.

Their representative stated that for “a long time”, the United States had “expanded the interpretation” of state security, exploited export control measures and “implemented” unfair treatments against Beijing.

“Using” import duty warnings is not the right way to deal with Beijing,” their representative said.

“Beijing’s stance” on a trade conflict has consistently been consistent: we wish to avoid one, but we are fearless of one.”

Last week, China declared it was strengthening foreign shipment restrictions on key elements and additional substances essential to advanced tech manufacturing.

This move was regarded as a important measure, as the nation refines about ninety percent of the planet’s critical minerals, which are employed in items such as solar panels and mobile phones.

New remarks from the US and China are being interpreted by some as a means of bolstering negotiating stances ahead of future trade talks.

Remains uncertain whether a meeting between Trump and Xi Jinping, planned at a conference in South Korea in the coming weeks, will take place as planned.