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The former US president’s most recent threat to impose an additional 100% tariff on products from China has been labeled a “prime illustration” of American hypocrisy, according to the Chinese government.

A representative of the ministry further commented that Beijing could introduce its own unrevealed “retaliatory steps” if the American leader executes his pledge, adding that the country was “not afraid” of a possible commercial battle.

This past Friday, the former president retaliated at China’s decision to strengthen its policies for overseas sales of rare earth minerals, alleging Beijing of “becoming very hostile” and attempting to hold the international market “captive”.

Furthermore, he warned to withdraw from a scheduled talks with China’s President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

His statements on that day rattled financial markets, with the S&P 500 dropping 2.7%, marking its steepest fall since last spring.

These statements reignited concerns of a trade conflict between the United States and China.

Earlier this year, the respective governments had reached an agreement to eliminate significant levies on each other’s products, which had created the possibility of trade halting between the two countries.

Consequently, United States levies on products from China facing an added import tax compared with the year’s onset, while items from the United States entering China face a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the format of written responses to press queries – mirrored terminology from the peak of the latest commercial tensions.

Officials denounced United States controls on electronic components while defending Beijing’s overseas sale regulations on rare earth minerals as “routine measures” to protect national security and that of every country.

The official remarked that for “an extended period”, the US had “broadened the definition” of national security, exploited foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Resorting to tariff threats is not the right way to deal with Beijing,” the spokesperson commented.

“Beijing’s stance” on a import duty dispute has consistently been consistent: we are not seeking one, but we are unafraid of one.”

Recently, China revealed it was tightening foreign shipment restrictions on rare earths and other materials essential to high-technology production.

This was seen as a significant step, as the state refines about the vast majority of the global rare earth supply, which are used in goods such as photovoltaic modules and handheld devices.

New remarks from both governments are being viewed by analysts as a method of strengthening positions prior to forthcoming discussions.

Remains uncertain whether a meeting between Trump and China’s leader, planned at a conference in the Republic of Korea later this month, will take place as planned.