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The former US president’s newest ultimatum to introduce an extra complete levy on Chinese goods has been labeled a “classic case” of American hypocrisy, according to the Chinese government.

A representative of the ministry also stated that Beijing could enact its own unrevealed “countermeasures” if the US President follows through on his warning, adding that the country was “not afraid” of a possible trade war.

On Friday, the former president retaliated at the Chinese government’s action to strengthen its policies for exports of rare earths, charging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “under its control”.

Additionally, he vowed to pull out of a arranged meeting with Chinese leader Xi Jinping, which was set for a meeting in Seoul later this month.

Trump’s comments on that day shook global markets, with the S&P 500 share index dropping nearly three percent, marking its biggest drop since April.

His comments reignited fears of a commercial dispute between the United States and China.

This past spring, the respective governments had consented to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the two nations.

This left, American import duties on Chinese imports incurring an additional import tax compared with the start of the year, while US goods entering the country incur a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the format of official answers to journalist’s questions – echoed language from the height of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while supporting Beijing’s restrictions on exports on rare earths as “standard procedures” to safeguard national security and that of all nations.

The official stated that for “an extended period”, the America had “overstretched the concept of national security, misused export control measures and “implemented” discriminatory practices against China.

“Using” trade levy ultimatums is not the proper method to interact with Beijing,” the official said.

“The nation’s view” on a import duty dispute has remained unchanging: we do not want one, but we are unafraid of one.”

The previous week, the Chinese government revealed it was reinforcing overseas sale regulations on rare earth minerals and other materials vital for advanced tech manufacturing.

This was seen as a significant step, as the country handles about ninety percent of the world’s rare earths, which are employed in items such as photovoltaic modules and smartphones.

The recent comments from Washington and Beijing are being interpreted by analysts as a means of strengthening positions prior to forthcoming discussions.

Is not yet known whether a meeting between Trump and China’s leader, planned at a high-level meeting in the Republic of Korea in the coming weeks, will take place as planned.