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Trump’s latest warning to enforce an extra 100% tariff on products from China has been labeled a “prime illustration” of American hypocrisy, per the China’s leadership.

A Commerce Ministry spokesperson further commented that China could introduce its own unspecified “responsive actions” if the American leader executes his pledge, noting that the country was “fearless” of a looming commercial battle.

Last Friday, the former president hit back at Beijing’s move to strengthen its regulations for exports of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also threatened to cancel a arranged meeting with Chinese leader Xi Jinping, which was set for a conference in South Korea before the month ends.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 share index dropping 2.7%, marking its largest decline since April.

The president’s words revived fears of a trade conflict between the US and China.

This past spring, the both nations had consented to drop significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the two countries.

As a result, American import duties on Chinese imports incurring an added 30% levy compared with the start of the year, while items from the United States entering the Chinese market are subject to a 10% tariff.

The most recent comments from China – issued by the relevant government department in the format of official answers to journalist’s questions – echoed rhetoric from the peak of the recent trade conflict.

They criticised American limits on exports on chips and semi-conductors while justifying the country’s own overseas sale regulations on key elements as “normal actions” to safeguard state interests and that of all nations.

Their representative remarked that for “a long time”, the United States had “broadened the definition” of domestic safety, exploited overseas sale restrictions and “implemented” biased policies against the Chinese nation.

“Turning to” import duty warnings is not the correct approach to deal with Beijing,” their representative said.

“China’s position on a trade conflict has always been consistent: we wish to avoid one, but we are unafraid of one.”

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

This move was regarded as a significant step, as the country processes about the vast majority of the global rare earth supply, which are employed in goods such as renewable energy components and handheld devices.

Latest statements from the US and China are being viewed by some as a means of strengthening positions prior to upcoming negotiations.

It is unclear whether a meeting between Donald Trump and China’s leader, expected at a summit in South Korea later this month, will go ahead.