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Trump’s latest threat to enforce an additional 100% tariff on products from China has been described as a “prime illustration” of United States’ contradictory behavior, according to the Beijing administration.

A representative of the ministry also stated that the nation could enact its own unspecified “retaliatory steps” if the White House occupant executes his threat, adding that the country was “not afraid” of a looming commercial battle.

On Friday, Donald Trump retaliated at the Chinese government’s action to tighten its regulations for foreign shipments of rare earth minerals, charging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also warned to cancel a arranged summit with China’s President Xi, which was expected to take place during a conference in Seoul later this month.

His statements on last Friday rattled global markets, with the S&P 500 share index dropping nearly three percent, marking its largest decline since April.

These statements reignited fears of a trade conflict between the US and China.

Earlier this year, the two sides had consented to drop triple-digit tariffs on each other’s imports, which had led to concerns of commerce ceasing between the economic powers.

As a result, US tariffs on products from China incurring an additional import tax compared with the start of the year, while American products entering China face a ten percent duty.

Beijing’s recent statements – published by the relevant government department in the manner of written responses to media inquiries – reflected rhetoric from the peak of the latest commercial tensions.

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

Their representative stated that for “a long time”, the United States had “expanded the interpretation” of state security, misused export control measures and “enforced” biased policies against the Chinese nation.

“Resorting to trade levy ultimatums is not the correct approach to interact with Beijing,” their representative commented.

“China’s position on a trade conflict has consistently been steady: we are not seeking one, but we are fearless of one.”

Last week, Beijing declared it was reinforcing export controls on rare earths and further resources vital for cutting-edge industry.

The action was viewed as a key move, as the country processes about 90% of the global rare earth supply, which are employed in goods such as photovoltaic modules and smartphones.

Latest statements from the US and China are being seen by some as a means of bolstering negotiating stances prior to future trade talks.

It is unclear whether a summit between the former president and Xi Jinping, planned at a conference in Seoul later this month, will go ahead.