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The former US president’s latest warning to impose an further complete levy on items imported from China has been described as a “classic case” of American hypocrisy, according to the Beijing administration.

A representative of the ministry also stated that China could introduce its own unspecified “countermeasures” if the White House occupant follows through on his warning, emphasizing that the country was “fearless” of a looming trade conflict.

On Friday, the former president retaliated at Beijing’s move to reinforce its regulations for exports of rare earths, accusing China of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he threatened to cancel a planned talks with Beijing’s head of state Xi, which was set for a conference in Seoul later this month.

Trump’s comments on Friday rattled global markets, with the S&P 500 closing down nearly three percent, marking its steepest fall since earlier this year.

The president’s words reignited apprehensions of a commercial dispute between the two economic giants.

Earlier this year, the respective governments had agreed to drop significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the two countries.

This left, US tariffs on Chinese goods facing an added thirty percent tariff compared with the start of the year, while items from the United States entering China face a import levy.

China’s latest remarks – issued by the Commerce Ministry in the manner of formal replies to media inquiries – reflected language from the height of the latest commercial tensions.

They criticised United States controls on semiconductors and chips while defending China’s own export controls on rare earth minerals as “routine measures” to safeguard domestic safety and that of every country.

The official stated that for “an extended period”, the America had “expanded the interpretation” of domestic safety, abused overseas sale restrictions and “adopted biased policies against the Chinese nation.

“Turning to” trade levy ultimatums is not the right way to deal with Beijing,” the spokesperson stated.

“China’s position on a import duty dispute has remained steady: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government revealed it was reinforcing export controls on key elements and further resources vital for cutting-edge industry.

This move was regarded as a key move, as the nation handles about 90% of the planet’s critical minerals, which are employed in goods such as photovoltaic modules and mobile phones.

Latest statements from both governments are being interpreted by some as a strategy of enhancing bargaining power ahead of upcoming negotiations.

Remains uncertain whether a summit between the former president and China’s leader, scheduled at a summit in Seoul before month’s end, will still proceed.