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Donald Trump’s most recent threat to introduce an further complete levy on Chinese goods has been described as a “typical example” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry also stated that Beijing could enact its own undisclosed “retaliatory steps” if the American leader follows through on his warning, emphasizing that the country was “fearless” of a looming commercial battle.

Last Friday, Donald Trump responded at the Chinese government’s action to strengthen its regulations for foreign shipments of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

He also vowed to pull out of a planned meeting with Beijing’s head of state President Xi, which was set for a summit in South Korea in the coming weeks.

His statements on last Friday unsettled financial markets, with the S&P 500 share index falling by 2.7%, marking its biggest drop since earlier this year.

These statements revived apprehensions of a trade conflict between the two economic giants.

Earlier this year, the two sides had consented to remove triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the economic powers.

This left, American import duties on Chinese goods subject to an additional 30% levy compared with the start of the year, while US goods entering the country incur a 10% tariff.

China’s latest remarks – published by the Ministry of Commerce in the format of written responses to media inquiries – mirrored language from the peak of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while defending Beijing’s export controls on rare earths as “standard procedures” to safeguard domestic safety and that of the global community.

The spokesperson remarked that for “an extended period”, the United States had “expanded the interpretation” of domestic safety, exploited overseas sale restrictions and “implemented” biased policies against Beijing.

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

“Beijing’s stance” on a trade conflict has remained consistent: we do not want one, but we are unafraid of one.”

Last week, Beijing declared it was tightening overseas sale regulations on rare earths and other materials vital for high-technology production.

The action was viewed as a important measure, as the nation handles about 90% of the global rare earth supply, which are utilized in items such as solar panels and smartphones.

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

Remains uncertain whether a summit between the former president and China’s leader, expected at a conference in South Korea in the coming weeks, will go ahead.