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Trump’s newest threat to enforce an additional full import duty on products from China has been called a “classic case” of American hypocrisy, per the China’s leadership.

A representative of the ministry further commented that the nation could introduce its own unspecified “responsive actions” if the American leader executes his threat, adding that the country was “fearless” of a possible trade war.

On Friday, Trump hit back at the Chinese government’s action to reinforce its policies for foreign shipments of rare earths, charging the Chinese leadership of “turning aggressive” and attempting to hold the world “hostage”.

Furthermore, he threatened to withdraw from a scheduled talks with Chinese leader President Xi, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday rattled financial markets, with the S&P 500 falling by 2.7%, marking its biggest drop since earlier this year.

These statements reignited fears of a commercial dispute between the US and China.

This past spring, the two sides had reached an agreement to remove triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the two nations.

As a result, US tariffs on Chinese goods incurring an extra import tax compared with the start of the year, while items from the United States entering the Chinese market are subject to a import levy.

Beijing’s recent statements – published by the Ministry of Commerce in the format of formal replies to press queries – mirrored terminology from the height of the ongoing trade dispute.

They criticised US export restrictions on electronic components while defending China’s own restrictions on exports on key elements as “normal actions” to ensure state interests and that of the global community.

The spokesperson stated that for “an extended period”, the America had “broadened the definition” of state security, misused foreign shipment regulations and “implemented” biased policies against China.

“Turning to” tariff threats is not the right way to engage with China,” their representative stated.

“China’s position on a trade conflict has always been consistent: we do not want one, but we are not afraid of one.”

Recently, China announced it was strengthening overseas sale regulations on key elements and other materials essential to advanced tech manufacturing.

This move was regarded as a key move, as the country refines about the vast majority of the planet’s critical minerals, which are used in products such as photovoltaic modules and mobile phones.

Latest statements from Washington and Beijing are being seen by observers as a method of strengthening positions in preparation for future trade talks.

It is unclear whether a talks between Donald Trump and President Xi, expected at a high-level meeting in Seoul later this month, will still proceed.