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Trump’s newest ultimatum to introduce an extra complete levy on Chinese goods has been labeled a “classic case” of American hypocrisy, according to the Beijing administration.

A representative of the ministry further commented that China could introduce its own unspecified “countermeasures” if the US President carries out his threat, emphasizing that the country was “not afraid” of a looming trade war.

This past Friday, the former president hit back at China’s decision to strengthen its regulations for overseas sales of rare earth minerals, charging China of “turning aggressive” and attempting to hold the international market “captive”.

Additionally, he warned to withdraw from a planned meeting with China’s President Xi, which was arranged for a summit in South Korea before the month ends.

His statements on Friday rattled financial markets, with the benchmark US stock index dropping over two and a half percent, marking its biggest drop since earlier this year.

The president’s words revived concerns of a trade conflict between the two economic giants.

In May, the two sides had reached an agreement to drop high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

Consequently, United States levies on Chinese goods subject to an extra import tax compared with the year’s onset, while American products entering China are subject to a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the format of written responses to media inquiries – reflected rhetoric from the height of the recent trade conflict.

They criticised American limits on exports on semiconductors and chips while defending China’s own export controls on rare earths as “standard procedures” to protect national security and that of every country.

The official remarked that for “a long time”, the US had “expanded the interpretation” of domestic safety, abused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Turning to” import duty warnings is not the right way to engage with the Chinese government,” their representative said.

“China’s position on a trade conflict has remained steady: we wish to avoid one, but we are fearless of one.”

Recently, China announced it was tightening foreign shipment restrictions on key elements and other materials vital for advanced tech manufacturing.

This move was regarded as a key move, as the state handles about the vast majority of the global rare earth supply, which are used in items such as photovoltaic modules and handheld devices.

New remarks from both governments are being seen by observers as a means of bolstering negotiating stances ahead of upcoming negotiations.

Is not yet known whether a talks between Donald Trump and China’s leader, planned at a conference in the Republic of Korea later this month, will still proceed.