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Trump’s latest threat to enforce an additional full import duty on Chinese goods has been labeled a “classic case” of United States’ contradictory behavior, as stated by the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could enact its own unrevealed “countermeasures” if the US President follows through on his pledge, noting that the country was “fearless” of a looming trade war.

On Friday, Donald Trump retaliated at Beijing’s move to tighten its regulations for exports of critical elements, accusing Beijing of “becoming very hostile” and attempting to hold the global community “hostage”.

He also threatened to cancel a planned talks with Beijing’s head of state Xi Jinping, which was arranged for a meeting in the Republic of Korea before the month ends.

His statements on last Friday rattled financial markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since earlier this year.

His comments reignited concerns of a trade conflict between the US and China.

In May, the respective governments had agreed to remove high import duties on each other’s goods, which had raised the prospect of trade halting between the economic powers.

Consequently, American import duties on Chinese goods incurring an additional thirty percent tariff compared with the start of the year, while American products entering the country face a ten percent duty.

The most recent comments from China – issued by the Commerce Ministry in the form of written responses to journalist’s questions – echoed rhetoric from the peak of the recent trade conflict.

Officials denounced US export restrictions on chips and semi-conductors while defending China’s own restrictions on exports on rare earths as “standard procedures” to safeguard state interests and that of the global community.

Their representative said that for “an extended period”, the United States had “overstretched the concept of national security, abused overseas sale restrictions and “enforced” unfair treatments against the Chinese nation.

“Turning to” tariff threats is not the right way to deal with Beijing,” the spokesperson said.

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

Recently, China announced it was tightening export controls on key elements and other materials essential to advanced tech manufacturing.

This move was regarded as a key move, as the country processes about the vast majority of the planet’s critical minerals, which are used in goods such as photovoltaic modules and handheld devices.

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

It is unclear whether a talks between the former president and President Xi, expected at a high-level meeting in Seoul in the coming weeks, will take place as planned.