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The former US president’s most recent ultimatum to impose an further full import duty on Chinese goods has been called a “prime illustration” of American hypocrisy, per the China’s leadership.

A Commerce Ministry spokesperson further commented that the nation could enact its own unrevealed “retaliatory steps” if the American leader follows through on his threat, emphasizing that the country was “fearless” of a looming trade conflict.

Last Friday, the former president hit back at Beijing’s move to reinforce its policies for overseas sales of critical elements, accusing Beijing of “turning aggressive” and attempting to hold the international market “hostage”.

Additionally, he threatened to cancel a arranged meeting with Chinese leader Xi Jinping, which was arranged for a conference in Seoul in the coming weeks.

The former president’s remarks on last Friday rattled global markets, with the S&P 500 dropping over two and a half percent, marking its biggest drop since last spring.

These statements renewed fears of a commercial dispute between the United States and China.

This past spring, the respective governments had agreed to remove high import duties on each other’s goods, which had raised the prospect of commerce ceasing between the two countries.

This left, United States levies on products from China subject to an additional thirty percent tariff compared with the start of the year, while items from the United States entering China incur a 10% tariff.

China’s latest remarks – issued by the relevant government department in the form of written responses to media inquiries – mirrored terminology from the height of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while supporting Beijing’s overseas sale regulations on rare earth minerals as “routine measures” to protect national security and that of the global community.

The spokesperson said that for “many years”, the America had “overstretched the concept of domestic safety, abused overseas sale restrictions and “adopted discriminatory practices against China.

“Using” trade levy ultimatums is not the right way to engage with Beijing,” their representative said.

“China’s position on a trade conflict has remained steady: we are not seeking one, but we are not afraid of one.”

The previous week, China announced it was reinforcing foreign shipment restrictions on key elements and other materials vital for cutting-edge industry.

This was seen as a key move, as the country refines about the vast majority of the global rare earth supply, which are employed in goods such as photovoltaic modules and smartphones.

Latest statements from the US and China are being interpreted by observers as a strategy of strengthening positions ahead of upcoming negotiations.

Is not yet known whether a summit between Donald Trump and China’s leader, scheduled at a summit in the Republic of Korea later this month, will take place as planned.