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Trump’s latest warning to introduce an further 100% tariff on Chinese goods has been described as a “classic case” of United States’ contradictory behavior, as stated by the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that Beijing could enact its own undisclosed “countermeasures” if the US President executes his pledge, adding that the country was “unafraid” of a potential commercial battle.

On Friday, Trump retaliated at Beijing’s move to reinforce its regulations for overseas sales of rare earths, charging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to withdraw from a scheduled summit with Chinese leader President Xi, which was expected to take place during a meeting in South Korea before the month ends.

Trump’s comments on Friday unsettled financial markets, with the S&P 500 share index dropping 2.7%, marking its biggest drop since last spring.

These statements renewed fears of a trade war between the United States and China.

In May, the two sides had agreed to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the economic powers.

This left, US tariffs on products from China incurring an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the country incur a ten percent duty.

Beijing’s recent statements – published by the Commerce Ministry in the manner of official answers to press queries – mirrored rhetoric from the peak of the ongoing trade dispute.

The remarks condemned American limits on exports on chips and semi-conductors while justifying the country’s own export controls on rare earths as “routine measures” to ensure domestic safety and that of every country.

Their representative remarked that for “many years”, the US had “overstretched the concept of national security, misused foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Resorting to import duty warnings is not the proper method to interact with the Chinese government,” their representative stated.

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

The previous week, Beijing announced it was strengthening overseas sale regulations on key elements and additional substances essential to high-technology production.

This move was regarded as a key move, as the nation handles about ninety percent of the planet’s critical minerals, which are utilized in goods such as renewable energy components and smartphones.

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

Is not yet known whether a summit between Trump and Xi Jinping, expected at a high-level meeting in South Korea later this month, will take place as planned.