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Trump’s newest ultimatum to impose an extra full import duty on products from China has been called a “classic case” of American hypocrisy, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that the nation could implement its own undisclosed “countermeasures” if the US President carries out his threat, noting that the country was “not afraid” of a looming trade conflict.

Last Friday, Donald Trump responded at China’s decision to reinforce its regulations for exports of rare earth minerals, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

He also warned to pull out of a planned talks with China’s President Xi, which was expected to take place during a conference in the Republic of Korea before the month ends.

His statements on last Friday shook global markets, with the S&P 500 share index closing down 2.7%, marking its largest decline since last spring.

His comments renewed apprehensions of a commercial dispute between the US and China.

Earlier this year, the both nations had agreed to drop high import duties on each other’s imports, which had led to concerns of trade halting between the two nations.

Consequently, American import duties on Chinese goods incurring an additional import tax compared with the year’s onset, while American products entering China face a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the form of official answers to press queries – mirrored rhetoric from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while justifying Beijing’s overseas sale regulations on rare earths as “standard procedures” to safeguard national security and that of every country.

The official said that for “many years”, the United States had “overstretched the concept of domestic safety, misused foreign shipment regulations and “implemented” biased policies against the Chinese nation.

“Using” tariff threats is not the proper method to deal with Beijing,” their representative stated.

“China’s position on a tariff war has always been consistent: we are not seeking one, but we are unafraid of one.”

The previous week, China revealed it was tightening export controls on rare earth minerals and additional substances vital for cutting-edge industry.

This move was regarded as a significant step, as the nation refines about ninety percent of the world’s rare earths, which are used in items such as renewable energy components and smartphones.

New remarks from Washington and Beijing are being interpreted by observers as a means of enhancing bargaining power in preparation for upcoming negotiations.

Is not yet known whether a summit between Trump and President Xi, expected at a conference in Seoul before month’s end, will take place as planned.