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The former US president’s most recent warning to enforce an additional full import duty on items imported from China has been described as 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 undisclosed “countermeasures” if the US President follows through on his warning, adding that the country was “unafraid” of a potential trade conflict.

On Friday, the former president responded at the Chinese government’s action to reinforce its rules for foreign shipments of critical elements, accusing China of “turning aggressive” and attempting to hold the international market “hostage”.

He also vowed to cancel a arranged meeting with Beijing’s head of state President Xi, which was arranged for a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday rattled global markets, with the S&P 500 falling by 2.7%, marking its biggest drop since April.

The president’s words reignited fears of a trade war between the US and China.

Earlier this year, the both nations had agreed to drop triple-digit tariffs on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, US tariffs on products from China incurring an additional import tax compared with the year’s onset, while American products entering the country incur a 10% tariff.

China’s latest remarks – published by the relevant government department in the format of official answers to journalist’s questions – mirrored language from the peak of the ongoing trade dispute.

The remarks condemned United States controls on chips and semi-conductors while defending Beijing’s overseas sale regulations on rare earths as “normal actions” to protect domestic safety and that of every country.

The spokesperson remarked that for “many years”, the America had “broadened the definition” of national security, abused foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Turning to” tariff threats is not the right way to engage with China,” the official said.

“China’s position on a trade conflict has always been unchanging: we wish to avoid one, but we are not afraid of one.”

Last week, China revealed it was strengthening foreign shipment restrictions on rare earths and additional substances essential to high-technology production.

This was seen as a important measure, as the state processes about 90% of the world’s rare earths, which are used in items such as renewable energy components and handheld devices.

Latest statements from both governments are being interpreted by observers as a strategy of enhancing bargaining power prior to forthcoming discussions.

Remains uncertain whether a talks between Trump and President Xi, scheduled at a conference in South Korea later this month, will still proceed.