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The former US president’s latest warning to enforce an extra 100% tariff on Chinese goods has been labeled a “prime illustration” of American hypocrisy, per the China’s leadership.

A Commerce Ministry spokesperson also stated that Beijing could enact its own undisclosed “responsive actions” if the US President follows through on his warning, noting that the country was “not afraid” of a possible commercial battle.

On Friday, the former president retaliated at China’s decision to strengthen its policies for overseas sales of critical elements, accusing China of “turning aggressive” and attempting to hold the world “hostage”.

Additionally, he vowed to pull out of a arranged talks with China’s President President Xi, which was expected to take place during a meeting in the Republic of Korea later this month.

His statements on last Friday unsettled financial markets, with the benchmark US stock index falling by over two and a half percent, marking its biggest drop since last spring.

These statements revived apprehensions of a commercial dispute between the US and China.

In May, the both nations had reached an agreement to remove significant levies on each other’s goods, which had raised the prospect of commerce ceasing between the two countries.

As a result, American import duties on products from China facing an added import tax compared with the year’s onset, while American products entering the country are subject to a 10% tariff.

China’s latest remarks – issued by the relevant government department in the format of official answers to media inquiries – mirrored language from the height of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own restrictions on exports on key elements as “routine measures” to protect state interests and that of all nations.

The spokesperson remarked that for “many years”, the America had “expanded the interpretation” of domestic safety, exploited export control measures and “adopted discriminatory practices against the Chinese nation.

“Turning to” tariff threats is not the right way to interact with China,” their representative stated.

“The nation’s view” on a trade conflict 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 earths and further resources critical for advanced tech manufacturing.

This move was regarded as a significant step, as the country processes about the vast majority of the planet’s critical minerals, which are utilized in products such as solar panels and smartphones.

Latest statements from Washington and Beijing are being viewed by some as a means of bolstering negotiating stances in preparation for future trade talks.

Is not yet known whether a talks between the former president and President Xi, planned at a high-level meeting in Seoul before month’s end, will take place as planned.