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The former US president’s latest warning to enforce an extra 100% tariff on Chinese goods has been labeled a “typical example” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry also stated that China could enact its own unspecified “countermeasures” if the American leader executes his pledge, adding that the country was “not afraid” of a possible trade conflict.

Last Friday, Donald Trump retaliated at Beijing’s move to reinforce its regulations for exports of critical elements, accusing China of “adopting a confrontational stance” and attempting to hold the world “under its control”.

He also warned to cancel a arranged talks with Chinese leader Xi, which was expected to take place during a summit in the Republic of Korea before the month ends.

Trump’s comments on Friday rattled global markets, with the S&P 500 falling by 2.7%, marking its largest decline since earlier this year.

These statements revived fears of a commercial dispute between the United States and China.

This past spring, the respective governments had consented to eliminate triple-digit tariffs on each other’s goods, which had led to concerns of bilateral trade stopping between the two countries.

Consequently, US tariffs on Chinese goods incurring an added thirty percent tariff compared with the start of the year, while items from the United States entering the country face a ten percent duty.

The most recent comments from China – published by the relevant government department in the form of formal replies to journalist’s questions – echoed terminology from the peak of the latest commercial tensions.

The remarks condemned United States controls on semiconductors and chips while justifying China’s own restrictions on exports on rare earth minerals as “routine measures” to protect domestic safety and that of all nations.

Their representative stated that for “an extended period”, the US had “overstretched the concept of domestic safety, abused overseas sale restrictions and “adopted biased policies against China.

“Using” trade levy ultimatums is not the proper method to engage with the Chinese government,” their representative commented.

“The nation’s view” on a tariff war has remained consistent: we are not seeking one, but we are unafraid of one.”

The previous week, China declared it was tightening export controls on key elements and further resources vital for advanced tech manufacturing.

This was seen as a important measure, as the country refines about ninety percent of the world’s rare earths, which are employed in items such as solar panels and smartphones.

Latest statements from both governments are being interpreted by analysts as a method of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a talks between the former president and China’s leader, planned at a high-level meeting in Seoul in the coming weeks, will go ahead.