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Trump’s newest ultimatum to impose an further complete levy on Chinese goods has been described as a “classic case” of United States’ contradictory behavior, per the Chinese government.

A Commerce Ministry spokesperson further commented that China could implement its own unspecified “retaliatory steps” if the US President carries out his threat, noting that the country was “fearless” of a looming trade conflict.

On Friday, the former president retaliated at China’s decision to reinforce its policies for foreign shipments of rare earth minerals, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a scheduled summit with China’s President President Xi, which was arranged for a conference in Seoul later this month.

The former president’s remarks on last Friday shook global markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since earlier this year.

The president’s words reignited concerns of a trade war between the two economic giants.

This past spring, the both nations had consented to remove triple-digit tariffs on each other’s imports, which had raised the prospect of commerce ceasing between the two countries.

Consequently, United States levies on Chinese imports facing an additional 30% levy compared with the year’s onset, while US goods entering the Chinese market face a import levy.

China’s latest remarks – published by the Commerce Ministry in the format of written responses to media inquiries – mirrored rhetoric from the height of the recent trade conflict.

Officials denounced US export restrictions on electronic components while justifying the country’s own restrictions on exports on key elements as “routine measures” to safeguard national security and that of the global community.

The official said that for “a long time”, the United States had “expanded the interpretation” of state security, exploited foreign shipment regulations and “enforced” discriminatory practices against China.

“Using” import duty warnings is not the right way to deal with Beijing,” the spokesperson stated.

“The nation’s view” on a trade conflict has consistently been consistent: we are not seeking one, but we are not afraid of one.”

Last week, China declared it was reinforcing foreign shipment restrictions on rare earths and further resources vital for cutting-edge industry.

This move was regarded as a important measure, as the state processes about the vast majority of the world’s rare earths, which are used in products such as solar panels and mobile phones.

Latest statements from the US and China are being seen by observers as a method of bolstering negotiating stances prior to upcoming negotiations.

It is unclear whether a meeting between Trump and Xi Jinping, scheduled at a summit in the Republic of Korea later this month, will take place as planned.