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Trump’s latest warning to introduce an extra complete levy on Chinese goods has been called a “typical example” of United States’ contradictory behavior, according to the Beijing administration.

A representative of the ministry also stated that China could implement its own unrevealed “countermeasures” if the US President executes his threat, emphasizing that the country was “unafraid” of a potential trade war.

On Friday, Trump responded at Beijing’s move to tighten its regulations for exports of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he vowed to cancel a arranged summit with Beijing’s head of state Xi Jinping, which was expected to take place during a conference in South Korea in the coming weeks.

Trump’s comments on Friday unsettled global markets, with the S&P 500 share index closing down over two and a half percent, marking its largest decline since last spring.

These statements renewed concerns of a commercial dispute between the two economic giants.

This past spring, the respective governments had agreed to drop high import duties on each other’s goods, which had led to concerns of commerce ceasing between the economic powers.

As a result, American import duties on Chinese goods facing an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the country face a ten percent duty.

China’s latest remarks – issued by the Ministry of Commerce in the manner of official answers to press queries – echoed language from the peak of the latest commercial tensions.

They criticised US export restrictions on semiconductors and chips while justifying Beijing’s export controls on key elements as “standard procedures” to safeguard national security and that of the global community.

The official said that for “an extended period”, the United States had “overstretched the concept of domestic safety, misused overseas sale restrictions and “adopted discriminatory practices against the Chinese nation.

“Using” import duty warnings is not the correct approach to interact with the Chinese government,” the official said.

“China’s position on a tariff war has always been steady: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government announced it was tightening export controls on key elements and further resources vital for high-technology production.

This was seen as a important measure, as the state refines about the vast majority of the planet’s critical minerals, which are used in items such as renewable energy components and mobile phones.

New remarks from both governments are being seen by some as a means of enhancing bargaining power in preparation for upcoming negotiations.

Remains uncertain whether a summit between Trump and President Xi, scheduled at a high-level meeting in Seoul before month’s end, will take place as planned.