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Trump’s latest warning to introduce an additional complete levy on products from China has been described as a “prime illustration” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry further commented that the nation could enact its own undisclosed “countermeasures” if the White House occupant follows through on his pledge, emphasizing that the country was “unafraid” of a potential trade war.

On Friday, Donald Trump hit back at Beijing’s move to strengthen its regulations for overseas sales of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also vowed to pull out of a planned talks with Beijing’s head of state Xi, which was set for a meeting in the Republic of Korea before the month ends.

Trump’s comments on that day rattled financial markets, with the S&P 500 falling by over two and a half percent, marking its biggest drop since April.

His comments reignited apprehensions of a trade conflict between the United States and China.

Earlier this year, the respective governments had agreed to eliminate triple-digit tariffs on each other’s products, which had created the possibility of trade halting between the economic powers.

This left, American import duties on Chinese goods facing an additional import tax compared with the year’s onset, while US goods entering the country are subject to a ten percent duty.

Beijing’s recent statements – published by the relevant government department in the format of written responses to media inquiries – echoed terminology from the height of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while justifying Beijing’s overseas sale regulations on key elements as “normal actions” to protect state interests and that of all nations.

Their representative said that for “many years”, the United States had “overstretched the concept of domestic safety, abused overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.

“Turning to” trade levy ultimatums is not the correct approach to deal with the Chinese government,” the official said.

“Beijing’s stance” on a trade conflict has remained unchanging: we do not want one, but we are fearless of one.”

Last week, China revealed it was strengthening export controls on rare earths and additional substances vital for advanced tech manufacturing.

This move was regarded as a significant step, as the country refines about the vast majority of the world’s rare earths, which are used in items such as photovoltaic modules and smartphones.

Latest statements from Washington and Beijing are being seen by analysts as a means of enhancing bargaining power prior to upcoming negotiations.

Remains uncertain whether a summit between the former president and China’s leader, expected at a conference in Seoul before month’s end, will go ahead.