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The former US president’s most recent ultimatum to introduce an further complete levy on Chinese goods has been called a “prime illustration” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could enact its own unrevealed “countermeasures” if the US President follows through on his warning, adding that the country was “fearless” of a possible trade war.

On Friday, Trump responded at the Chinese government’s action to reinforce its regulations for foreign shipments of rare earths, charging China of “becoming very hostile” and attempting to hold the global community “under its control”.

Furthermore, he threatened to cancel a arranged talks with Beijing’s head of state Xi, which was arranged for a meeting in Seoul in the coming weeks.

The former president’s remarks on Friday rattled global markets, with the S&P 500 closing down 2.7%, marking its largest decline since earlier this year.

These statements reignited fears of a trade conflict between the US and China.

This past spring, the both nations had reached an agreement to remove triple-digit tariffs on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, United States levies on Chinese imports subject to an extra 30% levy compared with the start of the year, while American products entering China face a import levy.

The most recent comments from China – released by the relevant government department in the manner of official answers to journalist’s questions – mirrored language from the peak of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while supporting the country’s own export controls on key elements as “standard procedures” to protect state interests and that of every country.

The official remarked that for “an extended period”, the US had “broadened the definition” of national security, exploited foreign shipment regulations and “adopted biased policies against China.

“Turning to” tariff threats is not the proper method to deal with Beijing,” their representative stated.

“The nation’s view” on a import duty dispute has consistently been consistent: we wish to avoid one, but we are unafraid of one.”

The previous week, China declared it was tightening foreign shipment restrictions on key elements and additional substances vital for advanced tech manufacturing.

The action was viewed as a significant step, as the nation refines about 90% of the world’s rare earths, which are used in goods such as renewable energy components and mobile phones.

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

Is not yet known whether a talks between Donald Trump and Xi Jinping, planned at a summit in Seoul in the coming weeks, will go ahead.