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Donald Trump’s latest ultimatum to introduce an additional 100% tariff on Chinese goods has been called a “classic case” of American hypocrisy, per the China’s leadership.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unrevealed “responsive actions” if the American leader carries out his pledge, adding that the country was “unafraid” of a potential trade war.

On Friday, the former president hit back at the Chinese government’s action to reinforce its policies for foreign shipments of rare earth minerals, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “captive”.

Additionally, he threatened to cancel a planned talks with China’s President President Xi, which was expected to take place during a conference in the Republic of Korea before the month ends.

Trump’s comments on Friday rattled global markets, with the S&P 500 share index dropping 2.7%, marking its largest decline since April.

These statements revived apprehensions of a trade war between the US and China.

In May, the two sides had agreed to eliminate high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two nations.

This left, American import duties on Chinese imports incurring an additional thirty percent tariff compared with the start of the year, while items from the United States entering the Chinese market incur a 10% tariff.

China’s latest remarks – issued by the relevant government department in the format of official answers to press queries – reflected terminology from the zenith of the recent trade conflict.

The remarks condemned US export restrictions on electronic components while supporting China’s own overseas sale regulations on key elements as “routine measures” to ensure state interests and that of the global community.

The spokesperson said that for “many years”, the America had “overstretched the concept of domestic safety, misused export control measures and “adopted biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to interact with China,” the official said.

“China’s position on a tariff war has remained consistent: we wish to avoid one, but we are unafraid of one.”

The previous week, China revealed it was strengthening export controls on rare earths and further resources critical for cutting-edge industry.

This was seen as a key move, as the state refines about the vast majority of the global rare earth supply, which are used in products such as photovoltaic modules and smartphones.

New remarks from the US and China are being seen by observers as a method of strengthening positions prior to upcoming negotiations.

It is unclear whether a talks between Donald Trump and Xi Jinping, expected at a high-level meeting in Seoul later this month, will still proceed.