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The former US president’s most recent ultimatum to introduce an extra 100% tariff on products from China has been called a “prime illustration” of American hypocrisy, according to the Chinese government.

A representative of the ministry additionally remarked that China could introduce its own undisclosed “retaliatory steps” if the American leader follows through on his threat, emphasizing that the country was “unafraid” of a possible commercial battle.

This past Friday, Trump hit back at the Chinese government’s action to tighten its rules for overseas sales of critical elements, accusing China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Additionally, he threatened to cancel a arranged talks with Chinese leader Xi Jinping, which was expected to take place during a conference in South Korea later this month.

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

The president’s words renewed fears of a commercial dispute between the two economic giants.

In May, the both nations had agreed to remove triple-digit tariffs on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

Consequently, US tariffs on Chinese imports facing an extra 30% levy compared with the start of the year, while US goods entering the Chinese market are subject to a 10% tariff.

Beijing’s recent statements – published by the Ministry of Commerce in the form of formal replies to press queries – echoed language from the peak of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while justifying the country’s own restrictions on exports on rare earth minerals as “normal actions” to protect national security and that of every country.

Their representative remarked that for “a long time”, the US had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “adopted unfair treatments against China.

“Turning to” tariff threats is not the right way to deal with the Chinese government,” their representative commented.

“China’s position on a tariff war has remained steady: we do not want one, but we are not afraid of one.”

The previous week, China declared it was reinforcing overseas sale regulations on rare earths and further resources essential to high-technology production.

The action was viewed as a important measure, as the state processes about the vast majority of the planet’s critical minerals, which are used in goods such as renewable energy components and handheld devices.

Latest statements from both governments are being interpreted by some as a method of bolstering negotiating stances in preparation for forthcoming discussions.

Is not yet known whether a talks between Donald Trump and Xi Jinping, expected at a summit in the Republic of Korea before month’s end, will take place as planned.