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Donald Trump’s newest warning to impose an further full import duty on products from China has been labeled a “classic case” of American hypocrisy, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that Beijing could introduce its own unrevealed “retaliatory steps” if the US President follows through on his pledge, emphasizing that the country was “fearless” of a potential commercial battle.

On Friday, the former president retaliated at China’s decision to tighten its policies for exports of rare earths, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

He also warned to cancel a planned talks with Beijing’s head of state President Xi, which was expected to take place during a summit in the Republic of Korea before the month ends.

The former president’s remarks on last Friday rattled global markets, with the benchmark US stock index dropping 2.7%, marking its biggest drop since April.

These statements renewed fears of a trade conflict between the US and China.

This past spring, the both nations had consented to eliminate high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

As a result, United States levies on products from China facing an added 30% levy compared with the year’s onset, while items from the United States entering China incur a import levy.

China’s latest remarks – released by the relevant government department in the format of official answers to journalist’s questions – reflected terminology from the zenith of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while supporting China’s own export controls on rare earth minerals as “routine measures” to safeguard state interests and that of the global community.

The official remarked that for “many years”, the America had “overstretched the concept of domestic safety, exploited export control measures and “adopted discriminatory practices against China.

“Using” tariff threats is not the correct approach to engage with Beijing,” the official commented.

“The nation’s view” on a trade conflict has remained consistent: we do not want one, but we are fearless of one.”

The previous week, the Chinese government announced it was reinforcing export controls on rare earth minerals and additional substances essential to high-technology production.

This was seen as a significant step, as the country refines about ninety percent of the planet’s critical minerals, which are employed in products such as solar panels and smartphones.

The recent comments from both governments are being interpreted by observers as a method of bolstering negotiating stances in preparation for forthcoming discussions.

It is unclear whether a talks between the former president and President Xi, expected at a conference in South Korea later this month, will still proceed.