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The former US president’s latest ultimatum to impose an extra full import duty on products from China has been labeled a “typical example” of American hypocrisy, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could introduce its own undisclosed “responsive actions” if the White House occupant executes his pledge, emphasizing that the country was “fearless” of a potential commercial battle.

On Friday, Trump hit back at Beijing’s move to reinforce its rules for exports of rare earth minerals, charging China of “adopting a confrontational stance” and attempting to hold the international market “under its control”.

Additionally, he vowed to cancel a planned summit with China’s President Xi, which was expected to take place during a meeting in Seoul in the coming weeks.

The former president’s remarks on Friday shook global markets, with the S&P 500 closing down nearly three percent, marking its biggest drop since last spring.

These statements reignited apprehensions of a commercial dispute between the US and China.

This past spring, the both nations had agreed to drop high import duties on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

This left, US tariffs on Chinese goods subject to an added 30% levy compared with the year’s onset, while US goods entering the country incur a ten percent duty.

The most recent comments from China – released by the Commerce Ministry in the form of official answers to media inquiries – echoed terminology from the peak of the recent trade conflict.

The remarks condemned US export restrictions on chips and semi-conductors while supporting Beijing’s restrictions on exports on rare earths as “normal actions” to ensure national security and that of the global community.

Their representative stated that for “a long time”, the America had “broadened the definition” of national security, misused export control measures and “implemented” unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the proper method to deal with China,” the spokesperson commented.

“Beijing’s stance” on a tariff war has remained steady: we wish to avoid one, but we are unafraid of one.”

The previous week, Beijing declared it was tightening export controls on rare earth minerals and additional substances critical for advanced tech manufacturing.

The action was viewed as a significant step, as the nation processes about the vast majority of the planet’s critical minerals, which are used in items such as solar panels and smartphones.

New remarks from Washington and Beijing are being viewed by analysts as a method of strengthening positions in preparation for future trade talks.

It is unclear whether a meeting between the former president and China’s leader, expected at a summit in South Korea in the coming weeks, will still proceed.