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Trump’s most recent threat to introduce an additional full import duty on Chinese goods has been called a “classic case” of American hypocrisy, per the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could introduce its own unspecified “countermeasures” if the White House occupant carries out his pledge, adding that the country was “not afraid” of a potential trade war.

This past Friday, Donald Trump responded at the Chinese government’s action to reinforce its rules for overseas sales of critical elements, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Additionally, he vowed to withdraw from a planned summit with Beijing’s head of state Xi, which was arranged for a meeting in the Republic of Korea later this month.

Trump’s comments on that day unsettled global markets, with the S&P 500 share index dropping over two and a half percent, marking its steepest fall since earlier this year.

His comments renewed concerns of a trade conflict between the two economic giants.

Earlier this year, the two sides had agreed to remove triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the two nations.

As a result, United States levies on Chinese imports facing an extra import tax compared with the year’s onset, while items from the United States entering China face a 10% tariff.

Beijing’s recent statements – published by the relevant government department in the manner of official answers to journalist’s questions – mirrored terminology from the height of the ongoing trade dispute.

Officials denounced US export restrictions on electronic components while supporting the country’s own overseas sale regulations on key elements as “normal actions” to protect national security and that of all nations.

Their representative stated that for “many years”, the America had “expanded the interpretation” of national security, misused overseas sale restrictions and “implemented” discriminatory practices against China.

“Turning to” trade levy ultimatums is not the correct approach to interact with the Chinese government,” their representative commented.

“China’s position on a tariff war has always been consistent: we do not want one, but we are fearless of one.”

The previous week, the Chinese government revealed it was strengthening foreign shipment restrictions on rare earths and further resources essential to cutting-edge industry.

This move was regarded as a significant step, as the state processes about ninety percent of the world’s rare earths, which are utilized in products such as photovoltaic modules and mobile phones.

New remarks from Washington and Beijing are being viewed by observers as a strategy of enhancing bargaining power ahead of future trade talks.

Is not yet known whether a meeting between Donald Trump and President Xi, planned at a conference in the Republic of Korea before month’s end, will still proceed.