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Donald Trump’s latest threat to impose an additional complete levy on items imported from China has been called a “classic case” of American hypocrisy, per the China’s leadership.

A Commerce Ministry spokesperson also stated that China could enact its own undisclosed “countermeasures” if the White House occupant executes his warning, noting that the country was “fearless” of a potential trade conflict.

On Friday, Trump retaliated at Beijing’s move to strengthen its regulations for foreign shipments of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Furthermore, he warned to pull out of a planned talks with China’s President Xi Jinping, which was expected to take place during a summit in Seoul in the coming weeks.

The former president’s remarks on that day rattled global markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since last spring.

The president’s words renewed fears of a commercial dispute between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove high import duties on each other’s imports, which had raised the prospect of bilateral trade stopping between the two nations.

As a result, US tariffs on Chinese imports incurring an extra import tax compared with the year’s onset, while US goods entering the Chinese market are subject to a 10% tariff.

The most recent comments from China – published by the relevant government department in the form of official answers to press queries – mirrored terminology from the peak of the latest commercial tensions.

They criticised United States controls on chips and semi-conductors while defending China’s own export controls on key elements as “normal actions” to protect state interests and that of every country.

Their representative remarked that for “a long time”, the United States had “expanded the interpretation” of national security, abused export control measures and “enforced” biased policies against China.

“Resorting to trade levy ultimatums is not the proper method to deal with Beijing,” the spokesperson stated.

“Beijing’s stance” on a import duty dispute has remained unchanging: we do not want one, but we are unafraid of one.”

The previous week, China declared it was strengthening export controls on key elements and other materials essential to advanced tech manufacturing.

This move was regarded as a important measure, as the country handles about 90% of the global rare earth supply, which are utilized in items such as solar panels and handheld devices.

Latest statements from both governments are being seen by some as a method of strengthening positions ahead of future trade talks.

Is not yet known whether a summit between Trump and President Xi, expected at a high-level meeting in South Korea in the coming weeks, will take place as planned.