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Trump’s latest ultimatum to impose an extra full import duty on items imported from China has been called a “classic case” of American hypocrisy, per the Beijing administration.

A Commerce Ministry spokesperson further commented that Beijing could enact its own unspecified “retaliatory steps” if the American leader follows through on his pledge, emphasizing that the country was “not afraid” of a potential trade conflict.

On Friday, the former president hit back at Beijing’s move to strengthen its regulations for exports of rare earth minerals, alleging China of “turning aggressive” and attempting to hold the world “hostage”.

He also warned to withdraw from a planned meeting with China’s President Xi, which was arranged for a meeting in Seoul later this month.

Trump’s comments on that day rattled global markets, with the benchmark US stock index dropping 2.7%, marking its steepest fall since last spring.

The president’s words renewed concerns of a trade war between the US and China.

Earlier this year, the respective governments had reached an agreement to drop significant levies on each other’s imports, which had raised the prospect of commerce ceasing between the economic powers.

This left, American import duties on Chinese imports incurring an extra 30% levy compared with the year’s onset, while items from the United States entering the Chinese market face a import levy.

The most recent comments from China – published by the Commerce Ministry in the manner of official answers to press queries – reflected terminology from the zenith of the ongoing trade dispute.

Officials denounced American limits on exports on chips and semi-conductors while supporting the country’s own export controls on rare earth minerals as “normal actions” to protect domestic safety and that of all nations.

The official remarked that for “a long time”, the America had “broadened the definition” of domestic safety, misused overseas sale restrictions and “adopted unfair treatments against the Chinese nation.

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

“The nation’s view” on a trade conflict has remained steady: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government declared it was reinforcing overseas sale regulations on rare earths and other materials vital for advanced tech manufacturing.

The action was viewed as a important measure, as the state handles about 90% of the global rare earth supply, which are utilized in items such as photovoltaic modules and handheld devices.

New remarks from Washington and Beijing are being viewed by some as a strategy of strengthening positions ahead of forthcoming discussions.

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