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Donald Trump’s newest threat to enforce an further complete levy on products from China has been described as a “prime illustration” of American hypocrisy, according to the Chinese government.

A official from China’s Commerce Ministry further commented that Beijing could implement its own undisclosed “retaliatory steps” if the US President executes his pledge, emphasizing that the country was “fearless” of a possible trade conflict.

Last Friday, Trump hit back at China’s decision to reinforce its rules for exports of rare earths, alleging China of “adopting a confrontational stance” and attempting to hold the world “captive”.

Additionally, he threatened to pull out of a arranged talks with Beijing’s head of state President Xi, which was arranged for a summit in Seoul later this month.

The former president’s remarks on last Friday shook global markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since April.

The president’s words revived apprehensions of a trade war between the US and China.

In May, the respective governments had consented to remove high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, American import duties on Chinese imports subject to an additional import tax compared with the year’s onset, while items from the United States entering the Chinese market are subject to a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the format of official answers to journalist’s questions – reflected language from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on semiconductors and chips while supporting the country’s own export controls on key elements as “routine measures” to protect domestic safety and that of all nations.

The spokesperson stated that for “many years”, the America had “broadened the definition” of domestic safety, misused export control measures and “adopted unfair treatments against Beijing.

“Turning to” import duty warnings is not the proper method to deal with the Chinese government,” the spokesperson commented.

“China’s position on a trade conflict has consistently been consistent: we wish to avoid one, but we are fearless of one.”

The previous week, China declared it was reinforcing overseas sale regulations on rare earth minerals and additional substances vital for cutting-edge industry.

This move was regarded as a key move, as the country handles about 90% of the world’s rare earths, which are utilized in products such as photovoltaic modules and mobile phones.

Latest statements from Washington and Beijing are being seen by analysts as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a summit between Donald Trump and President Xi, scheduled at a high-level meeting in Seoul before month’s end, will take place as planned.