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Trump’s newest warning to enforce an further full import duty on products from China has been called a “prime illustration” of United States’ contradictory behavior, as stated by the Chinese government.

A official from China’s Commerce Ministry further commented that Beijing could enact its own undisclosed “retaliatory steps” if the American leader executes his warning, adding that the country was “unafraid” of a potential trade war.

On Friday, Donald Trump retaliated at the Chinese government’s action to strengthen its policies for exports of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Furthermore, he threatened to withdraw from a scheduled talks with China’s President President Xi, which was expected to take place during a conference in South Korea before the month ends.

Trump’s comments on Friday rattled financial markets, with the S&P 500 share index dropping over two and a half percent, marking its largest decline since April.

The president’s words revived concerns of a trade war between the US and China.

This past spring, the respective governments had agreed to eliminate triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

Consequently, US tariffs on products from China subject to an extra thirty percent tariff compared with the start of the year, while US goods entering China are subject to a 10% tariff.

The most recent comments from China – released by the relevant government department in the manner of written responses to press queries – reflected language from the height of the latest commercial tensions.

The remarks condemned US export restrictions on electronic components while justifying Beijing’s restrictions on exports on rare earth minerals as “routine measures” to ensure national security and that of the global community.

The official stated that for “a long time”, the US had “overstretched the concept of domestic safety, abused export control measures and “adopted discriminatory practices against the Chinese nation.

“Using” import duty warnings is not the right way to engage with the Chinese government,” their representative said.

“Beijing’s stance” on a tariff war has remained unchanging: we do not want one, but we are not afraid of one.”

Last week, Beijing announced it was tightening foreign shipment restrictions on rare earths and additional substances critical for high-technology production.

The action was viewed as a important measure, as the country processes about the vast majority of the planet’s critical minerals, which are employed in products such as solar panels and handheld devices.

New remarks from Washington and Beijing are being seen by some as a means of bolstering negotiating stances ahead of upcoming negotiations.

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