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The former US president’s most recent warning to enforce an additional 100% tariff on Chinese goods has been called a “classic case” of American hypocrisy, according to the China’s leadership.

A representative of the ministry additionally remarked that Beijing could introduce its own unrevealed “responsive actions” if the US President executes his threat, emphasizing that the country was “unafraid” of a looming commercial battle.

On Friday, the former president responded at Beijing’s move to tighten its regulations for overseas sales of rare earth minerals, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he threatened to cancel a scheduled meeting with China’s President President Xi, which was set for a meeting in the Republic of Korea later this month.

His statements on last Friday rattled financial markets, with the S&P 500 closing down 2.7%, marking its steepest fall since April.

His comments revived concerns of a trade conflict between the two economic giants.

In May, the two sides had reached an agreement to drop high import duties on each other’s imports, which had raised the prospect of bilateral trade stopping between the two countries.

Consequently, American import duties on Chinese goods incurring an added import tax compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

The most recent comments from China – published by the Commerce Ministry in the format of official answers to media inquiries – reflected rhetoric from the peak of the recent trade conflict.

Officials denounced American limits on exports on electronic components while defending the country’s own overseas sale regulations on rare earths as “routine measures” to ensure domestic safety and that of all nations.

The spokesperson said that for “many years”, the US had “broadened the definition” of national security, abused export control measures and “implemented” discriminatory practices against China.

“Using” trade levy ultimatums is not the right way to deal with Beijing,” the official said.

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

The previous week, the Chinese government announced it was strengthening foreign shipment restrictions on key elements and further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the nation processes about ninety percent of the world’s rare earths, which are used in products such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by some as a method of bolstering negotiating stances prior to upcoming negotiations.

Remains uncertain whether a talks between Trump and China’s leader, scheduled at a high-level meeting in Seoul later this month, will still proceed.