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The former US president’s newest ultimatum to enforce an further complete levy on Chinese goods has been labeled a “typical example” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson additionally remarked that Beijing could introduce its own undisclosed “countermeasures” if the White House occupant executes his threat, noting that the country was “not afraid” of a potential trade war.

On Friday, the former president retaliated at Beijing’s move to tighten its regulations for foreign shipments of rare earths, alleging China of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he warned to withdraw from a planned talks with Chinese leader President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

His statements on Friday rattled global markets, with the benchmark US stock index closing down nearly three percent, marking its largest decline 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 raised the prospect of bilateral trade stopping between the two nations.

This left, American import duties on products from China subject to an additional thirty percent tariff compared with the start of the year, while American products entering the country face a import levy.

Beijing’s recent statements – issued by the Ministry of Commerce in the form of formal replies to journalist’s questions – echoed terminology from the zenith of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while supporting Beijing’s restrictions on exports on key elements as “routine measures” to safeguard state interests and that of every country.

The spokesperson said that for “many years”, the United States had “overstretched the concept of domestic safety, abused overseas sale restrictions and “enforced” biased policies against Beijing.

“Using” trade levy ultimatums is not the right way to interact with the Chinese government,” the official said.

“The nation’s view” on a trade conflict has remained unchanging: we do not want one, but we are fearless of one.”

Last week, Beijing announced it was reinforcing export controls on rare earths and additional substances vital for cutting-edge industry.

This move was regarded as a significant step, as the state processes about 90% of the world’s rare earths, which are employed in goods such as renewable energy components and mobile phones.

Latest statements from Washington and Beijing are being seen by some as a means of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a meeting between Donald Trump and Xi Jinping, scheduled at a conference in South Korea later this month, will take place as planned.