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Trump’s latest ultimatum to impose an further complete levy on products from China has been labeled a “prime illustration” of United States’ contradictory behavior, per the China’s leadership.

A representative of the ministry additionally remarked that China could implement its own undisclosed “countermeasures” if the American leader carries out his pledge, emphasizing that the country was “not afraid” of a potential trade war.

Last Friday, the former president hit back at China’s decision to tighten its regulations for exports of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Furthermore, he vowed to pull out of a planned talks with Chinese leader President Xi, which was set for a meeting in Seoul before the month ends.

Trump’s comments on Friday unsettled financial markets, with the benchmark US stock index falling by 2.7%, marking its biggest drop since last spring.

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

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

As a result, US tariffs on Chinese goods subject to an additional 30% levy compared with the year’s onset, while items from the United States entering the country incur a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the manner of formal replies to journalist’s questions – echoed terminology from the height of the recent trade conflict.

Officials denounced United States controls on chips and semi-conductors while supporting China’s own restrictions on exports on key elements as “routine measures” to ensure national security and that of the global community.

The official said that for “many years”, the United States had “expanded the interpretation” of domestic safety, misused foreign shipment regulations and “implemented” discriminatory practices against China.

“Turning to” import duty warnings is not the right way to engage with the Chinese government,” the official stated.

“Beijing’s stance” on a tariff war has always been consistent: we wish to avoid one, but we are fearless of one.”

Last week, China announced it was reinforcing overseas sale regulations on key elements and other materials critical for high-technology production.

The action was viewed as a key move, as the state handles about the vast majority of the global rare earth supply, which are employed in items such as solar panels and mobile phones.

New remarks from both governments are being viewed by observers as a strategy of strengthening positions ahead of forthcoming discussions.

Is not yet known whether a summit between Donald Trump and China’s leader, scheduled at a conference in the Republic of Korea in the coming weeks, will go ahead.