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Donald Trump’s most recent threat to impose an additional complete levy on products from China has been labeled a “prime illustration” of United States’ contradictory behavior, according to the China’s leadership.

A representative of the ministry further commented that China could enact its own unspecified “countermeasures” if the American leader carries out his threat, adding that the country was “fearless” of a potential trade war.

On Friday, Donald Trump responded at the Chinese government’s action to reinforce its regulations for exports of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

He also warned to cancel a planned meeting with Chinese leader President Xi, which was set for a meeting in Seoul before the month ends.

Trump’s comments on Friday shook financial markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since last spring.

These statements reignited apprehensions of a trade conflict between the two economic giants.

In May, the both nations had agreed to drop triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the two countries.

This left, United States levies on products from China subject to an added 30% levy compared with the year’s onset, while items from the United States entering the country face a import levy.

China’s latest remarks – published by the Ministry of Commerce in the form of official answers to press queries – echoed rhetoric from the peak of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while defending the country’s own export controls on rare earth minerals as “normal actions” to protect state interests and that of the global community.

The official stated that for “many years”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” unfair treatments against China.

“Turning to” tariff threats is not the correct approach to deal with the Chinese government,” their representative stated.

“Beijing’s stance” on a trade conflict has consistently been unchanging: we wish to avoid one, but we are not afraid of one.”

Last week, the Chinese government announced it was reinforcing export controls on rare earths and other materials critical for high-technology production.

The action was viewed as a significant step, as the state processes about 90% of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and smartphones.

New remarks from Washington and Beijing are being interpreted by observers as a means of enhancing bargaining power ahead of forthcoming discussions.

Is not yet known whether a meeting between the former president and President Xi, expected at a conference in South Korea in the coming weeks, will still proceed.