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The former US president’s newest warning to enforce an additional 100% tariff on Chinese goods has been described as a “typical example” of United States’ contradictory behavior, according to the Beijing administration.

A Commerce Ministry spokesperson also stated that the nation could enact its own undisclosed “retaliatory steps” if the American leader follows through on his warning, adding that the country was “unafraid” of a looming commercial battle.

On Friday, the former president responded at China’s decision to strengthen its regulations for exports of critical elements, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “captive”.

He also threatened to pull out of a planned meeting with China’s President Xi, which was set for a conference in the Republic of Korea in the coming weeks.

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

His comments renewed concerns of a trade war between the United States and China.

Earlier this year, the both nations had reached an agreement to drop significant levies on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

As a result, American import duties on Chinese imports facing an extra 30% levy compared with the year’s onset, while US goods entering China face a 10% tariff.

The most recent comments from China – issued by the relevant government department in the form of written responses to journalist’s questions – reflected terminology from the peak of the latest commercial tensions.

The remarks condemned US export restrictions on electronic components while justifying the country’s own export controls on key elements as “standard procedures” to ensure domestic safety and that of all nations.

The official stated that for “an extended period”, the US had “broadened the definition” of state security, misused export control measures and “enforced” biased policies against the Chinese nation.

“Resorting to import duty warnings is not the proper method to interact with Beijing,” their representative commented.

“China’s position on a tariff war has consistently been unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government revealed it was tightening export controls on rare earth minerals and other materials essential to cutting-edge industry.

The action was viewed as a significant step, as the country refines about the vast majority of the global rare earth supply, which are used in products such as renewable energy components and smartphones.

The recent comments from the US and China are being seen by analysts as a strategy of enhancing bargaining power ahead of future trade talks.

It is unclear whether a meeting between Trump and Xi Jinping, planned at a conference in the Republic of Korea before month’s end, will still proceed.