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Trump’s newest ultimatum to impose an additional full import duty on items imported from China has been described as a “classic case” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry also stated that China could enact its own undisclosed “responsive actions” if the American leader carries out his warning, emphasizing that the country was “fearless” of a possible trade conflict.

This past Friday, Donald Trump retaliated at Beijing’s move to strengthen its policies for exports of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the world “captive”.

Furthermore, he vowed to withdraw from a planned talks with China’s President President Xi, which was arranged for a summit in South Korea in the coming weeks.

The former president’s remarks on Friday rattled financial markets, with the S&P 500 closing down 2.7%, marking its largest decline since earlier this year.

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

Earlier this year, the both nations had reached an agreement to remove significant levies on each other’s goods, which had created the possibility of commerce ceasing between the economic powers.

This left, United States levies on products from China facing an extra import tax compared with the start of the year, while items from the United States entering China incur a ten percent duty.

The most recent comments from China – issued by the relevant government department in the format of formal replies to journalist’s questions – mirrored rhetoric from the peak of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while justifying China’s own restrictions on exports on key elements as “routine measures” to safeguard state interests and that of all nations.

The official stated that for “many years”, the America had “broadened the definition” of domestic safety, abused overseas sale restrictions and “enforced” unfair treatments against China.

“Resorting to tariff threats is not the correct approach to deal with Beijing,” the spokesperson commented.

“Beijing’s stance” on a tariff war has consistently been consistent: we wish to avoid one, but we are unafraid of one.”

The previous week, China declared it was strengthening foreign shipment restrictions on rare earth minerals and other materials vital for high-technology production.

This was seen as a key move, as the state processes about ninety percent of the world’s rare earths, which are used in goods such as renewable energy components and handheld devices.

Latest statements from the US and China are being viewed by observers as a method of enhancing bargaining power ahead of forthcoming discussions.

Is not yet known whether a talks between the former president and Xi Jinping, expected at a conference in the Republic of Korea in the coming weeks, will still proceed.