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Trump’s newest ultimatum to enforce an additional complete levy on items imported from China has been described as a “classic case” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson further commented that Beijing could enact its own undisclosed “countermeasures” if the White House occupant follows through on his warning, emphasizing that the country was “fearless” of a potential commercial battle.

Last Friday, Trump retaliated at Beijing’s move to reinforce its policies for foreign shipments of critical elements, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to withdraw from a planned meeting with Chinese leader Xi, which was set for a conference in South Korea later this month.

Trump’s comments on that day unsettled global markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since last spring.

The president’s words reignited apprehensions of a trade conflict between the United States and China.

In May, the two sides had agreed to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of commerce ceasing between the two nations.

This left, American import duties on Chinese goods facing an extra 30% levy compared with the year’s onset, while US goods entering China are subject to a 10% tariff.

China’s latest remarks – published by the relevant government department in the manner of official answers to media inquiries – echoed language from the height of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while defending Beijing’s overseas sale regulations on key elements as “normal actions” to safeguard national security and that of the global community.

The official remarked that for “a long time”, the United States had “expanded the interpretation” of state security, misused export control measures and “implemented” unfair treatments against China.

“Resorting to tariff threats is not the right way to interact with China,” the official said.

“The nation’s view” on a tariff war has remained unchanging: we do not want one, but we are not afraid of one.”

The previous week, the Chinese government announced it was tightening export controls on key elements and additional substances essential to cutting-edge industry.

The action was viewed as a significant step, as the country processes about the vast majority of the planet’s critical minerals, which are used in goods such as solar panels and handheld devices.

The recent comments from Washington and Beijing are being seen by some as a means of bolstering negotiating stances prior to forthcoming discussions.

It is unclear whether a summit between Trump and Xi Jinping, scheduled at a high-level meeting in South Korea in the coming weeks, will take place as planned.