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

A Commerce Ministry spokesperson additionally remarked that the nation could implement its own undisclosed “retaliatory steps” if the American leader follows through on his pledge, adding that the country was “unafraid” of a possible trade war.

This past Friday, Trump hit back at Beijing’s move to reinforce its regulations for overseas sales of rare earth minerals, charging Beijing of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Additionally, he warned to withdraw from a scheduled summit with Beijing’s head of state President Xi, which was set for a conference in South Korea in the coming weeks.

Trump’s comments on Friday unsettled stock exchanges, with the S&P 500 falling by 2.7%, marking its largest decline since last spring.

The president’s words reignited apprehensions of a trade conflict between the US and China.

Earlier this year, the both nations had reached an agreement to remove triple-digit tariffs on each other’s imports, which had led to concerns of commerce ceasing between the economic powers.

As a result, American import duties on products from China incurring an added import tax compared with the start of the year, while items from the United States entering China are subject to a 10% tariff.

The most recent comments from China – issued by the Ministry of Commerce in the form of written responses to press queries – echoed language from the peak of the recent trade conflict.

Officials denounced US export restrictions on electronic components while justifying China’s own export controls on rare earths as “routine measures” to protect domestic safety and that of the global community.

The official remarked that for “a long time”, the US had “overstretched the concept of national security, abused overseas sale restrictions and “enforced” unfair treatments against China.

“Turning to” import duty warnings is not the right way to engage with Beijing,” their representative said.

“China’s position on a import duty dispute has remained steady: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government declared it was tightening overseas sale regulations on rare earth minerals and other materials essential to cutting-edge industry.

This was seen as a key move, as the state processes about the vast majority of the world’s rare earths, which are employed in goods such as solar panels and smartphones.

The recent comments from both governments are being seen by analysts as a means of bolstering negotiating stances in preparation for upcoming negotiations.

Is not yet known whether a talks between Donald Trump and President Xi, planned at a conference in the Republic of Korea later this month, will take place as planned.