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Trump’s latest ultimatum to introduce an further complete levy on Chinese goods has been called a “typical example” of American hypocrisy, according to the China’s leadership.

A representative of the ministry further commented that Beijing could enact its own undisclosed “countermeasures” if the White House occupant executes his threat, emphasizing that the country was “unafraid” of a potential trade conflict.

This past Friday, Trump retaliated at China’s decision to strengthen its policies for foreign shipments of rare earth minerals, charging Beijing of “adopting a confrontational stance” and attempting to hold the world “captive”.

Furthermore, he threatened to withdraw from a arranged meeting with Chinese leader Xi, which was expected to take place during a conference in Seoul before the month ends.

Trump’s comments on Friday unsettled global markets, with the benchmark US stock index dropping over two and a half percent, marking its biggest drop since April.

His comments reignited concerns of a trade war between the two economic giants.

This past spring, the both nations had consented to remove high import duties on each other’s products, which had led to concerns of commerce ceasing between the two countries.

Consequently, American import duties on Chinese goods subject to an added thirty percent tariff compared with the start of the year, while American products entering China incur a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the form of formal replies to media inquiries – reflected rhetoric from the zenith of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while supporting China’s own overseas sale regulations on rare earths as “standard procedures” to safeguard national security and that of all nations.

Their representative stated that for “an extended period”, the US had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” biased policies against the Chinese nation.

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

“China’s position on a import duty dispute has consistently been steady: we do not want one, but we are fearless of one.”

The previous week, Beijing declared it was tightening overseas sale regulations on rare earths and additional substances vital for advanced tech manufacturing.

The action was viewed as a key move, as the state handles about ninety percent of the global rare earth supply, which are used in items such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by some as a strategy of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a meeting between Trump and China’s leader, scheduled at a conference in South Korea later this month, will go ahead.