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Donald Trump’s most recent ultimatum to impose an extra complete levy on Chinese goods has been described as a “typical example” of United States’ contradictory behavior, per the Beijing administration.

A official from China’s Commerce Ministry additionally remarked that Beijing could implement its own undisclosed “retaliatory steps” if the US President follows through on his warning, noting that the country was “fearless” of a looming trade war.

On Friday, the former president retaliated at Beijing’s move to tighten its policies for overseas sales of critical elements, alleging the Chinese leadership of “turning aggressive” and attempting to hold the world “hostage”.

Additionally, he warned to withdraw from a planned talks with China’s President President Xi, which was expected to take place during a meeting in Seoul in the coming weeks.

The former president’s remarks on last Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its largest decline since April.

These statements renewed fears of a trade war between the two economic giants.

This past spring, the two sides had reached an agreement to remove high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the two nations.

This left, US tariffs on Chinese goods facing an extra thirty percent tariff compared with the year’s onset, while American products entering China are subject to a 10% tariff.

China’s latest remarks – released by the Commerce Ministry in the form of official answers to press queries – echoed terminology from the peak of the ongoing trade dispute.

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

The spokesperson remarked that for “a long time”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” unfair treatments against Beijing.

“Turning to” tariff threats is not the proper method to engage with China,” the spokesperson stated.

“Beijing’s stance” on a tariff war has remained unchanging: we are not seeking one, but we are not afraid of one.”

The previous week, China announced it was tightening export controls on rare earth minerals and further resources vital for high-technology production.

This was seen as a significant step, as the state processes about ninety percent of the global rare earth supply, which are used in products such as solar panels and handheld devices.

New remarks from Washington and Beijing are being interpreted by some as a strategy of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a talks between Trump and President Xi, scheduled at a summit in South Korea before month’s end, will go ahead.