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Trump’s latest warning to enforce an further complete levy on Chinese goods has been described as a “typical example” of United States’ contradictory behavior, per the Beijing administration.

A Commerce Ministry spokesperson also stated that China could enact its own undisclosed “retaliatory steps” if the American leader carries out his pledge, emphasizing that the country was “fearless” of a potential trade war.

On Friday, the former president responded at the Chinese government’s action to strengthen its regulations for overseas sales of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he warned to pull out of a scheduled summit with Chinese leader Xi, which was expected to take place during a meeting in South Korea before the month ends.

His statements on last Friday unsettled financial markets, with the benchmark US stock index dropping 2.7%, marking its biggest drop since earlier this year.

These statements revived concerns of a trade war between the US and China.

This past spring, the both nations had reached an agreement to remove significant levies on each other’s products, which had led to concerns of commerce ceasing between the two countries.

This left, United States levies on Chinese goods facing an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the Chinese market are subject to a ten percent duty.

China’s latest remarks – issued by the Ministry of Commerce in the manner of formal replies to media inquiries – echoed terminology from the peak of the ongoing trade dispute.

Officials denounced United States controls on chips and semi-conductors while justifying the country’s own overseas sale regulations on rare earth minerals as “normal actions” to protect domestic safety and that of all nations.

The spokesperson remarked that for “a long time”, the US had “overstretched the concept of national security, exploited overseas sale restrictions and “enforced” biased policies against China.

“Resorting to import duty warnings is not the right way to interact with China,” the spokesperson commented.

“The nation’s view” on a trade conflict has remained steady: we are not seeking one, but we are unafraid of one.”

Recently, the Chinese government revealed it was tightening export controls on rare earths and other materials essential to high-technology production.

The action was viewed as a significant step, as the state handles about the vast majority of the planet’s critical minerals, which are employed in goods such as photovoltaic modules and smartphones.

New remarks from both governments are being seen by some as a strategy of enhancing bargaining power ahead of future trade talks.

Is not yet known whether a meeting between Trump and President Xi, planned at a high-level meeting in South Korea later this month, will still proceed.