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The former US president’s newest ultimatum to introduce an further complete levy on items imported from China has been labeled a “typical example” of American hypocrisy, according to the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that Beijing could introduce its own unrevealed “responsive actions” if the US President executes his threat, adding that the country was “not afraid” of a potential commercial battle.

Last Friday, Trump retaliated at China’s decision to strengthen its rules for foreign shipments of rare earth minerals, alleging China of “becoming very hostile” and attempting to hold the international market “under its control”.

He also threatened to cancel a arranged talks with Beijing’s head of state President Xi, which was set for a conference in South Korea later this month.

His statements on Friday rattled global markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since earlier this year.

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

Earlier this year, the both nations had consented to drop significant levies on each other’s products, which had raised the prospect of trade halting between the two countries.

As a result, US tariffs on Chinese goods incurring an extra import tax compared with the start of the year, while US goods entering China are subject to a 10% tariff.

Beijing’s recent statements – published by the Ministry of Commerce in the manner of written responses to journalist’s questions – mirrored language from the zenith of the ongoing trade dispute.

They criticised American limits on exports on electronic components while justifying Beijing’s restrictions on exports on rare earths as “routine measures” to safeguard national security and that of every country.

Their representative stated that for “an extended period”, the United States had “overstretched the concept of state security, exploited export control measures and “adopted discriminatory practices against China.

“Resorting to tariff threats is not the correct approach to deal with China,” the official commented.

“Beijing’s stance” on a trade conflict has always been unchanging: we wish to avoid one, but we are fearless of one.”

Last week, the Chinese government announced it was reinforcing overseas sale regulations on rare earth minerals and additional substances essential to high-technology production.

The action was viewed as a important measure, as the country handles about ninety percent of the world’s rare earths, which are utilized in products such as renewable energy components and smartphones.

The recent comments from both governments are being interpreted by analysts as a means of enhancing bargaining power prior to forthcoming discussions.

Is not yet known whether a summit between Trump and China’s leader, scheduled at a summit in South Korea before month’s end, will take place as planned.