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Donald Trump’s latest warning to impose an additional full import duty on products from China has been described as a “typical example” of United States’ contradictory behavior, as stated by the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could enact its own unrevealed “retaliatory steps” if the White House occupant executes his threat, noting that the country was “fearless” of a potential trade war.

On Friday, Donald Trump responded at the Chinese government’s action to reinforce its regulations for exports of rare earths, charging Beijing of “becoming very hostile” and attempting to hold the global community “hostage”.

Furthermore, he vowed to cancel a scheduled summit with Chinese leader Xi, which was arranged for a conference in the Republic of Korea later this month.

His statements on last Friday unsettled global markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since last spring.

The president’s words revived apprehensions of a trade conflict between the two economic giants.

This past spring, the respective governments had consented to eliminate significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, United States levies on products from China incurring an extra import tax compared with the year’s onset, while American products entering the Chinese market incur a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the manner of official answers to media inquiries – echoed rhetoric from the height of the recent trade conflict.

The remarks condemned US export restrictions on chips and semi-conductors while supporting China’s own restrictions on exports on rare earths as “normal actions” to ensure domestic safety and that of the global community.

The official stated that for “a long time”, the United States had “overstretched the concept of national security, exploited foreign shipment regulations and “implemented” unfair treatments against Beijing.

“Turning to” tariff threats is not the proper method to engage with the Chinese government,” the official said.

“The nation’s view” on a tariff war has consistently been steady: we do not want one, but we are unafraid of one.”

Recently, Beijing announced it was tightening foreign shipment restrictions on rare earths and other materials critical for cutting-edge industry.

The action was viewed as a important measure, as the country processes about 90% of the planet’s critical minerals, which are employed in items such as photovoltaic modules and mobile phones.

The recent comments from the US and China are being seen by analysts as a means of enhancing bargaining power ahead of forthcoming discussions.

Remains uncertain whether a summit between the former president and President Xi, expected at a summit in Seoul later this month, will take place as planned.