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The former US president’s newest threat to enforce an extra full import duty on Chinese goods has been called a “typical example” of American hypocrisy, per the Beijing administration.

A representative of the ministry also stated that China could introduce its own undisclosed “retaliatory steps” if the White House occupant carries out his threat, emphasizing that the country was “not afraid” of a looming commercial battle.

This past Friday, Donald Trump responded at China’s decision to strengthen its regulations for foreign shipments of rare earth minerals, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “under its control”.

Additionally, he threatened to pull out of a planned meeting with Chinese leader Xi, which was expected to take place during a conference in South Korea before the month ends.

Trump’s comments on Friday unsettled stock exchanges, with the S&P 500 share index dropping nearly three percent, marking its largest decline since earlier this year.

These statements reignited fears of a commercial dispute between the two economic giants.

In May, the both nations had reached an agreement to drop high import duties on each other’s imports, which had led to concerns of trade halting between the two nations.

As a result, American import duties on Chinese goods incurring an added thirty percent tariff compared with the start of the year, while US goods entering the country incur a import levy.

The most recent comments from China – published by the Ministry of Commerce in the manner of written responses to press queries – reflected language from the zenith of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while defending the country’s own export controls on rare earth minerals as “routine measures” to protect domestic safety and that of the global community.

The spokesperson stated that for “many years”, the United States had “expanded the interpretation” of state security, exploited export control measures and “adopted unfair treatments against China.

“Using” trade levy ultimatums is not the proper method to interact with Beijing,” the official stated.

“China’s position on a import duty dispute has always been consistent: we do not want one, but we are fearless of one.”

Recently, Beijing announced it was tightening foreign shipment restrictions on rare earth minerals and additional substances essential to cutting-edge industry.

The action was viewed as a key move, as the nation refines about the vast majority of the planet’s critical minerals, which are employed in items such as renewable energy components and smartphones.

The recent comments from both governments are being seen by some as a method of enhancing bargaining power in preparation for forthcoming discussions.

It is unclear whether a talks between Donald Trump and Xi Jinping, scheduled at a high-level meeting in South Korea in the coming weeks, will go ahead.