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Trump’s newest threat to impose an extra 100% tariff on items imported from China has been labeled a “classic case” of American hypocrisy, as stated by the Chinese government.

A Commerce Ministry spokesperson additionally remarked that the nation could enact its own unspecified “retaliatory steps” if the US President carries out his warning, noting that the country was “unafraid” of a possible commercial battle.

This past Friday, Donald Trump hit back at China’s decision to tighten its rules for overseas sales of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Additionally, he vowed to cancel a planned talks with Beijing’s head of state Xi Jinping, which was set for a summit in South Korea before the month ends.

The former president’s remarks on Friday shook global markets, with the S&P 500 dropping nearly three percent, marking its biggest drop since earlier this year.

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

This past spring, the respective governments had agreed to drop triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the two countries.

Consequently, US tariffs on Chinese imports facing an additional 30% levy compared with the start of the year, while US goods entering the Chinese market face a import levy.

Beijing’s recent statements – published by the relevant government department in the manner of formal replies to journalist’s questions – reflected rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned United States controls on chips and semi-conductors while supporting Beijing’s export controls on rare earths as “routine measures” to safeguard national security and that of every country.

The official said that for “a long time”, the United States had “overstretched the concept of domestic safety, misused foreign shipment regulations and “adopted discriminatory practices against Beijing.

“Using” trade levy ultimatums is not the right way to deal with China,” their representative commented.

“China’s position on a trade conflict has remained steady: we are not seeking one, but we are not afraid of one.”

Recently, the Chinese government declared it was tightening overseas sale regulations on rare earth minerals and other materials vital for cutting-edge industry.

This was seen as a key move, as the nation processes about 90% of the planet’s critical minerals, which are utilized in goods such as solar panels and smartphones.

New remarks from the US and China are being viewed by some as a means of enhancing bargaining power ahead of forthcoming discussions.

It is unclear whether a meeting between Trump and Xi Jinping, scheduled at a conference in the Republic of Korea in the coming weeks, will go ahead.