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The former US president’s newest ultimatum to introduce an further complete levy on products from China has been described as a “typical example” of American hypocrisy, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own unrevealed “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “fearless” of a potential trade war.

This past Friday, the former president retaliated at Beijing’s move to strengthen its rules for foreign shipments of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the world “hostage”.

Additionally, he threatened to pull out of a scheduled meeting with Beijing’s head of state President Xi, which was arranged for a meeting in the Republic of Korea in the coming weeks.

His statements on last Friday unsettled financial markets, with the benchmark US stock index closing down nearly three percent, marking its largest decline since earlier this year.

The president’s words revived concerns of a trade conflict between the United States and China.

Earlier this year, the two sides had reached an agreement to drop significant levies on each other’s goods, which had created the possibility of trade halting between the two nations.

This left, United States levies on Chinese goods facing an additional 30% levy compared with the year’s onset, while US goods entering China face a 10% tariff.

Beijing’s recent statements – released by the Commerce Ministry in the format of official answers to media inquiries – reflected language from the height of the recent trade conflict.

They criticised American limits on exports on semiconductors and chips while supporting Beijing’s overseas sale regulations on rare earths as “routine measures” to safeguard national security and that of every country.

Their representative remarked that for “a long time”, the US had “expanded the interpretation” of state security, exploited foreign shipment regulations and “enforced” unfair treatments against China.

“Resorting to import duty warnings is not the right way to engage with Beijing,” the official said.

“China’s position on a trade conflict has consistently been consistent: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government revealed it was reinforcing foreign shipment restrictions on rare earths and other materials vital for cutting-edge industry.

The action was viewed as a important measure, as the state processes about ninety percent of the planet’s critical minerals, which are utilized in goods such as renewable energy components and handheld devices.

The recent comments from both governments are being seen by analysts as a method of enhancing bargaining power prior to future trade talks.

It is unclear whether a summit between the former president and President Xi, planned at a conference in the Republic of Korea before month’s end, will go ahead.