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Trump’s latest ultimatum to introduce an additional full import duty on Chinese goods has been described as a “prime illustration” of American hypocrisy, as stated by the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could enact its own unrevealed “countermeasures” if the American leader executes his pledge, adding that the country was “not afraid” of a potential trade war.

Last Friday, Trump responded at Beijing’s move to strengthen its policies for exports of critical elements, charging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

Additionally, he warned to cancel a planned summit with China’s President President Xi, which was set for a meeting in the Republic of Korea later this month.

Trump’s comments on Friday shook financial markets, with the S&P 500 share index falling by over two and a half percent, marking its steepest fall since April.

These statements renewed fears of a commercial dispute between the United States and China.

Earlier this year, the both nations had agreed to eliminate significant levies on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

This left, US tariffs on products from China facing an additional 30% levy compared with the year’s onset, while items from the United States entering the country incur a 10% tariff.

The most recent comments from China – issued by the relevant government department in the format of formal replies to media inquiries – mirrored language from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on chips and semi-conductors while supporting the country’s own export controls on key elements as “normal actions” to safeguard domestic safety and that of every country.

The spokesperson remarked that for “many years”, the America had “broadened the definition” of state security, abused export control measures and “implemented” unfair treatments against Beijing.

“Turning to” trade levy ultimatums is not the right way to engage with China,” the official said.

“Beijing’s stance” on a import duty dispute has remained consistent: we wish to avoid one, but we are unafraid of one.”

Last week, China declared it was strengthening foreign shipment restrictions on key elements and further resources essential to cutting-edge industry.

This move was regarded as a significant step, as the nation handles about 90% of the world’s rare earths, which are utilized in goods such as renewable energy components and mobile phones.

New remarks from Washington and Beijing are being interpreted by some as a method of enhancing bargaining power ahead of future trade talks.

Remains uncertain whether a summit between the former president and President Xi, expected at a summit in South Korea later this month, will take place as planned.