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The former US president’s newest threat to enforce an additional 100% tariff on items imported from China has been labeled a “prime illustration” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that the nation could introduce its own unspecified “retaliatory steps” if the White House occupant executes his warning, noting that the country was “unafraid” of a potential trade war.

Last Friday, the former president responded at Beijing’s move to tighten its policies for overseas sales of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the international market “captive”.

Furthermore, he threatened to pull out of a scheduled talks with Beijing’s head of state Xi Jinping, which was arranged for a summit in South Korea later this month.

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

His comments revived apprehensions of a trade war between the United States and China.

In May, the both nations had consented to eliminate significant levies on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, US tariffs on Chinese goods subject to an added 30% levy compared with the year’s onset, while items from the United States entering the country are subject to a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the format of written responses to journalist’s questions – reflected language from the zenith of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while supporting the country’s own overseas sale regulations on rare earths as “normal actions” to safeguard domestic safety and that of all nations.

Their representative stated that for “a long time”, the America had “broadened the definition” of domestic safety, exploited foreign shipment regulations and “adopted biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the right way to deal with Beijing,” their representative stated.

“China’s position on a trade conflict has consistently been consistent: we do not want one, but we are fearless of one.”

The previous week, the Chinese government declared it was strengthening export controls on key elements and other materials essential to advanced tech manufacturing.

This was seen as a important measure, as the state refines about the vast majority of the planet’s critical minerals, which are employed in products such as photovoltaic modules and mobile phones.

New remarks from both governments are being viewed by analysts as a method of enhancing bargaining power in preparation for future trade talks.

Is not yet known whether a talks between Donald Trump and President Xi, planned at a high-level meeting in Seoul before month’s end, will still proceed.