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The former US president’s most recent ultimatum to enforce an additional full import duty on products from China has been labeled a “prime illustration” of American hypocrisy, according to the Beijing administration.

A representative of the ministry additionally remarked that China could enact its own unrevealed “retaliatory steps” if the US President carries out his pledge, noting that the country was “not afraid” of a looming trade conflict.

This past Friday, Trump hit back at the Chinese government’s action to strengthen its regulations for overseas sales of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he warned to cancel a planned meeting with Beijing’s head of state President Xi, which was set for a meeting in Seoul later this month.

His statements on Friday shook global markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since last spring.

The president’s words reignited fears of a trade war between the United States and China.

This past spring, the both nations had agreed to drop triple-digit tariffs on each other’s goods, which had created the possibility of commerce ceasing between the two nations.

This left, American import duties on products from China subject to an added import tax compared with the year’s onset, while American products entering the Chinese market face a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the manner of formal replies to journalist’s questions – echoed terminology from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while justifying the country’s own overseas sale regulations on rare earths as “routine measures” to ensure state interests and that of every country.

Their representative said that for “an extended period”, the US had “broadened the definition” of state security, exploited foreign shipment regulations and “implemented” biased policies against Beijing.

“Turning to” import duty warnings is not the right way to deal with China,” the official said.

“The nation’s view” on a import duty dispute has remained consistent: we do not want one, but we are not afraid of one.”

Last week, the Chinese government revealed it was reinforcing overseas sale regulations on rare earths and further resources vital for advanced tech manufacturing.

The action was viewed as a key move, as the state processes about the vast majority of the global rare earth supply, which are utilized in items such as photovoltaic modules and handheld devices.

New remarks from both governments are being seen by observers as a means of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a talks between Trump and President Xi, expected at a conference in Seoul before month’s end, will take place as planned.