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The former US president’s newest ultimatum to enforce an extra full import duty on items imported from China has been described as a “typical example” of American hypocrisy, per the Chinese government.

A official from China’s Commerce Ministry further commented that China could enact its own unspecified “retaliatory steps” if the US President follows through on his threat, emphasizing that the country was “not afraid” of a possible commercial battle.

On Friday, the former president hit back at Beijing’s move to reinforce its policies for exports of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

He also threatened to cancel a arranged summit with Chinese leader President Xi, which was set for a summit in South Korea before the month ends.

Trump’s comments on last Friday shook global markets, with the benchmark US stock index dropping nearly three percent, marking its steepest fall since last spring.

His comments reignited fears of a trade conflict between the United States and China.

In May, the two sides had consented to eliminate high import duties on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, American import duties on Chinese goods subject to an added thirty percent tariff compared with the start of the year, while American products entering the Chinese market face a import levy.

Beijing’s recent statements – issued by the Ministry of Commerce in the format of official answers to journalist’s questions – reflected rhetoric from the zenith of the ongoing trade dispute.

They criticised US export restrictions on electronic components while defending the country’s own overseas sale regulations on key elements as “normal actions” to protect national security and that of all nations.

The spokesperson stated that for “an extended period”, the America had “expanded the interpretation” of national security, exploited overseas sale restrictions and “enforced” unfair treatments against Beijing.

“Resorting to import duty warnings is not the right way to deal with Beijing,” their representative said.

“China’s position on a import duty dispute has remained unchanging: we wish to avoid one, but we are unafraid of one.”

The previous week, Beijing declared it was strengthening foreign shipment restrictions on rare earths and additional substances vital for high-technology production.

This was seen as a important measure, as the country handles about the vast majority of the global rare earth supply, which are utilized in items such as renewable energy components and handheld devices.

Latest statements from the US and China are being seen by observers as a means of strengthening positions prior to future trade talks.

Is not yet known whether a meeting between the former president and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea later this month, will go ahead.