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The former US president’s newest warning to enforce an extra full import duty on products from China has been called a “prime illustration” of United States’ contradictory behavior, as stated by the China’s leadership.

A representative of the ministry further commented that the nation could enact its own unrevealed “countermeasures” if the US President executes his threat, noting that the country was “unafraid” of a looming trade conflict.

On Friday, the former president retaliated at Beijing’s move to strengthen its regulations for foreign shipments of rare earth minerals, alleging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a planned talks with China’s President President Xi, which was set for a meeting in South Korea in the coming weeks.

The former president’s remarks on Friday shook global markets, with the S&P 500 falling by 2.7%, marking its steepest fall since last spring.

The president’s words reignited fears of a commercial dispute between the US and China.

Earlier this year, the two sides had consented to eliminate significant levies on each other’s imports, which had raised the prospect of bilateral trade stopping between the two nations.

This left, American import duties on products from China facing an added thirty percent tariff compared with the start of the year, while items from the United States entering the country are subject to a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the manner of official answers to journalist’s questions – echoed rhetoric from the zenith of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while supporting China’s own export controls on rare earths as “standard procedures” to ensure national security and that of the global community.

The official remarked that for “a long time”, the US had “expanded the interpretation” of state security, exploited export control measures and “enforced” unfair treatments against Beijing.

“Turning to” trade levy ultimatums is not the proper method to interact with the Chinese government,” their representative stated.

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

Last week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earths and other materials vital for high-technology production.

The action was viewed as a important measure, as the state refines about 90% of the planet’s critical minerals, which are utilized in products such as solar panels and mobile phones.

The recent comments from Washington and Beijing are being interpreted by analysts as a method of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a talks between Donald Trump and China’s leader, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will take place as planned.