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Donald Trump’s latest threat to enforce an additional full import duty on Chinese goods has been labeled a “prime illustration” of American hypocrisy, according to the Beijing administration.

A Commerce Ministry spokesperson also stated that China could enact its own undisclosed “responsive actions” if the American leader follows through on his threat, noting that the country was “unafraid” of a looming trade conflict.

Last Friday, the former president retaliated at Beijing’s move to tighten its policies for foreign shipments of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the international market “captive”.

He also threatened to withdraw from a planned meeting with Beijing’s head of state President Xi, which was set for a meeting in South Korea in the coming weeks.

The former president’s remarks on last Friday shook financial markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since April.

These statements revived concerns of a commercial dispute between the US and China.

Earlier this year, the respective governments had agreed to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, US tariffs on Chinese imports facing an added import tax compared with the year’s onset, while items from the United States entering the country incur a 10% tariff.

The most recent comments from China – issued by the Ministry of Commerce in the manner of formal replies to journalist’s questions – mirrored language from the height of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while justifying the country’s own export controls on rare earths as “standard procedures” to ensure domestic safety and that of every country.

Their representative said that for “a long time”, the United States had “broadened the definition” of national security, misused foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Resorting to import duty warnings is not the correct approach to engage with Beijing,” their representative said.

“The nation’s view” on a tariff war has remained steady: we are not seeking one, but we are not afraid of one.”

Last week, the Chinese government announced it was reinforcing foreign shipment restrictions on key elements and additional substances vital for advanced tech manufacturing.

The action was viewed as a key move, as the nation processes about ninety percent of the planet’s critical minerals, which are utilized in goods such as solar panels and smartphones.

New remarks from the US and China are being interpreted by analysts as a method of enhancing bargaining power ahead of future trade talks.

It is unclear whether a summit between the former president and Xi Jinping, expected at a summit in South Korea later this month, will take place as planned.