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Donald Trump’s newest warning to introduce an extra 100% tariff on items imported from China has been called a “typical example” of United States’ contradictory behavior, according to the Beijing administration.

A official from China’s Commerce Ministry additionally remarked that Beijing could enact its own unrevealed “retaliatory steps” if the American leader follows through on his warning, noting that the country was “unafraid” of a potential commercial battle.

On Friday, the former president responded at the Chinese government’s action to reinforce its policies for foreign shipments of critical elements, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

Additionally, he vowed to pull out of a planned meeting with Beijing’s head of state Xi, which was expected to take place during a conference in Seoul later this month.

His statements on Friday unsettled stock exchanges, with the S&P 500 dropping 2.7%, marking its largest decline since last spring.

The president’s words renewed fears of a trade war between the US and China.

This past spring, the two sides had reached an agreement to eliminate triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two nations.

As a result, American import duties on products from China facing an additional 30% levy compared with the year’s onset, while US goods entering the Chinese market are subject to a import levy.

The most recent comments from China – issued by the Ministry of Commerce in the manner of written responses to press queries – reflected rhetoric from the peak of the latest commercial tensions.

Officials denounced United States controls on chips and semi-conductors while defending the country’s own overseas sale regulations on key elements as “normal actions” to protect national security and that of all nations.

The spokesperson said that for “an extended period”, the America had “expanded the interpretation” of national security, abused overseas sale restrictions and “enforced” unfair treatments against China.

“Using” tariff threats is not the proper method to engage with the Chinese government,” the spokesperson stated.

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

Last week, Beijing declared it was tightening overseas sale regulations on rare earth minerals and further resources vital for high-technology production.

The action was viewed as a key move, as the country processes about the vast majority of the world’s rare earths, which are employed in items such as solar panels and handheld devices.

New remarks from the US and China are being seen by some as a strategy of bolstering negotiating stances ahead of forthcoming discussions.

Is not yet known whether a meeting between Trump and Xi Jinping, planned at a high-level meeting in the Republic of Korea in the coming weeks, will still proceed.