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The former US president’s newest ultimatum to impose an further full import duty on products from China has been described as a “typical example” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson also stated that Beijing could enact its own unrevealed “retaliatory steps” if the American leader executes his pledge, adding that the country was “not afraid” of a potential trade war.

On Friday, Trump hit back at China’s decision to tighten its regulations for exports of critical elements, alleging China of “becoming very hostile” and attempting to hold the international market “captive”.

Additionally, he vowed to withdraw from a planned summit with Chinese leader President Xi, which was expected to take place during a summit in Seoul later this month.

Trump’s comments on that day shook global markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since earlier this year.

These statements revived apprehensions of a commercial dispute between the US and China.

In May, the respective governments had consented to eliminate high import duties on each other’s imports, which had led to concerns of trade halting between the two countries.

This left, US tariffs on Chinese goods incurring an additional 30% levy compared with the year’s onset, while US goods entering the country face a ten percent duty.

Beijing’s recent statements – published by the Ministry of Commerce in the manner of formal replies to journalist’s questions – reflected rhetoric from the peak of the latest commercial tensions.

Officials denounced American limits on exports on chips and semi-conductors while defending the country’s own restrictions on exports on rare earths as “normal actions” to protect state interests and that of every country.

Their representative said that for “many years”, the United States had “overstretched the concept of national security, misused foreign shipment regulations and “adopted discriminatory practices against China.

“Resorting to tariff threats is not the correct approach to interact with the Chinese government,” the official said.

“Beijing’s stance” on a tariff war has remained unchanging: we do not want one, but we are fearless of one.”

Last week, Beijing revealed it was reinforcing foreign shipment restrictions on rare earths and other materials vital for cutting-edge industry.

This was seen as a significant step, as the country refines about 90% of the planet’s critical minerals, which are used in products such as renewable energy components and smartphones.

New remarks from both governments are being interpreted by analysts as a method of strengthening positions prior to future trade talks.

Remains uncertain whether a summit between Trump and China’s leader, planned at a summit in the Republic of Korea before month’s end, will go ahead.