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The former US president’s most recent warning to introduce an additional complete levy on items imported from China has been called a “typical example” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could introduce its own undisclosed “countermeasures” if the US President executes his threat, emphasizing that the country was “fearless” of a potential commercial battle.

This past Friday, the former president retaliated at Beijing’s move to strengthen its rules for overseas sales of rare earths, charging China of “turning aggressive” 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 expected to take place during a meeting in the Republic of Korea later this month.

Trump’s comments on last Friday rattled financial markets, with the S&P 500 dropping nearly three percent, marking its largest decline since last spring.

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

This past spring, the two sides had consented to eliminate triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two nations.

This left, US tariffs on Chinese imports incurring an additional import tax compared with the start of the year, while US goods entering China incur a import levy.

The most recent comments from China – released by the Ministry of Commerce in the form of written responses to press queries – echoed rhetoric from the height of the latest commercial tensions.

Officials denounced American limits on exports on electronic components while supporting China’s own overseas sale regulations on rare earth minerals as “normal actions” to protect domestic safety and that of every country.

Their representative stated that for “many years”, the US had “broadened the definition” of state security, abused foreign shipment regulations and “adopted discriminatory practices against China.

“Resorting to trade levy ultimatums is not the proper method to interact with China,” their representative commented.

“China’s position on a tariff war has remained unchanging: we are not seeking one, but we are not afraid of one.”

The previous week, the Chinese government revealed it was strengthening export controls on rare earths and other materials essential to cutting-edge industry.

This move was regarded as a important measure, as the nation processes about the vast majority of the global rare earth supply, which are used in products such as photovoltaic modules and mobile phones.

Latest statements from the US and China are being interpreted by analysts as a means of strengthening positions prior to upcoming negotiations.

It is unclear whether a meeting between Trump and President Xi, scheduled at a summit in Seoul in the coming weeks, will go ahead.