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Donald Trump’s latest warning to enforce an further complete levy on Chinese goods has been labeled a “classic case” of American hypocrisy, per the Beijing administration.

A official from China’s Commerce Ministry additionally remarked that Beijing could implement its own unrevealed “countermeasures” if the White House occupant executes his warning, adding that the country was “unafraid” of a potential trade conflict.

On Friday, the former president retaliated at China’s decision to strengthen its rules for overseas sales of rare earths, alleging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Additionally, he threatened to cancel a scheduled summit with Chinese leader Xi, which was arranged for a summit in Seoul later this month.

The former president’s remarks on last Friday unsettled stock exchanges, with the S&P 500 falling by nearly three percent, marking its biggest drop since earlier this year.

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

In May, the respective governments had agreed to drop significant levies on each other’s imports, which had led to concerns of commerce ceasing between the two countries.

This left, US tariffs on Chinese imports subject to an extra thirty percent tariff compared with the start of the year, while items from the United States entering China are subject to a 10% tariff.

Beijing’s recent statements – published by the Commerce Ministry in the form of written responses to media inquiries – reflected language from the peak of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own restrictions on exports on rare earth minerals as “standard procedures” to ensure national security and that of all nations.

The official said that for “a long time”, the US had “broadened the definition” of state security, abused export control measures and “adopted discriminatory practices against China.

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

“The nation’s view” on a import duty dispute has consistently been consistent: we are not seeking one, but we are not afraid of one.”

The previous week, the Chinese government announced it was strengthening overseas sale regulations on key elements and other materials vital for cutting-edge industry.

This was seen as a significant step, as the country handles about 90% of the planet’s critical minerals, which are used in products such as solar panels and mobile phones.

Latest statements from both governments are being viewed by some as a means of enhancing bargaining power ahead of future trade talks.

It is unclear whether a talks between Donald Trump and President Xi, planned at a high-level meeting in Seoul in the coming weeks, will still proceed.