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The former US president’s most recent warning to impose an extra complete levy on items imported from China has been labeled a “classic case” of American hypocrisy, as stated by the China’s leadership.

A representative of the ministry also stated that China could introduce its own unspecified “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “fearless” of a looming trade conflict.

Last Friday, the former president hit back at Beijing’s move to tighten its rules for foreign shipments of rare earths, accusing China of “becoming very hostile” and attempting to hold the world “hostage”.

Furthermore, he vowed to cancel a planned talks with Beijing’s head of state Xi, which was arranged for a conference in Seoul in the coming weeks.

The former president’s remarks on last Friday rattled global markets, with the S&P 500 share index closing down over two and a half percent, marking its steepest fall since April.

These statements revived fears of a trade conflict between the United States and China.

This past spring, the respective governments had agreed to remove high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two nations.

This left, United States levies on Chinese imports incurring an additional import tax compared with the year’s onset, while US goods entering the Chinese market face a import levy.

China’s latest remarks – released by the relevant government department in the format of written responses to press queries – reflected terminology from the zenith of the latest commercial tensions.

The remarks condemned United States controls on electronic components while justifying Beijing’s restrictions on exports on rare earths as “routine measures” to safeguard national security and that of the global community.

Their representative remarked that for “a long time”, the America had “expanded the interpretation” of national security, exploited overseas sale restrictions and “enforced” unfair treatments against China.

“Using” import duty warnings is not the correct approach to deal with China,” the official commented.

“The nation’s view” on a import duty dispute has always been unchanging: we do not want one, but we are unafraid of one.”

The previous week, the Chinese government revealed it was tightening foreign shipment restrictions on key elements and additional substances vital for cutting-edge industry.

This move was regarded as a key move, as the country handles about the vast majority of the global rare earth supply, which are utilized in goods such as solar panels and handheld devices.

Latest statements from both governments are being viewed by analysts as a means of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a talks between Trump and Xi Jinping, expected at a high-level meeting in Seoul later this month, will go ahead.