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Trump’s newest warning to impose an extra complete levy on products from China has been called a “classic case” of American hypocrisy, as stated by the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could enact its own unrevealed “retaliatory steps” if the American leader carries out his threat, noting that the country was “not afraid” of a possible trade war.

On Friday, the former president retaliated at China’s decision to tighten its rules for foreign shipments of critical elements, alleging the Chinese leadership of “turning aggressive” and attempting to hold the global community “hostage”.

Additionally, he threatened to withdraw from a scheduled talks with Beijing’s head of state President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

Trump’s comments on last Friday shook financial markets, with the benchmark US stock index falling by over two and a half percent, marking its biggest drop since April.

His comments renewed concerns of a commercial dispute between the two economic giants.

Earlier this year, the two sides had agreed to drop high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two countries.

Consequently, American import duties on products from China facing an additional import tax compared with the start of the year, while American products entering the Chinese market are subject to a ten percent duty.

China’s latest remarks – published by the Ministry of Commerce in the format of formal replies to journalist’s questions – reflected rhetoric from the zenith of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while defending Beijing’s export controls on rare earth minerals as “routine measures” to safeguard state interests and that of all nations.

The official stated that for “an extended period”, the US had “broadened the definition” of state security, abused export control measures and “enforced” biased policies against the Chinese nation.

“Using” import duty warnings is not the correct approach to interact with the Chinese government,” their representative said.

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

Last week, Beijing declared it was reinforcing foreign shipment restrictions on key elements and additional substances vital for high-technology production.

This was seen as a significant step, as the state processes about ninety percent of the world’s rare earths, which are utilized in goods such as solar panels and smartphones.

Latest statements from both governments are being seen by analysts as a strategy of strengthening positions ahead of forthcoming discussions.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, expected at a conference in South Korea in the coming weeks, will go ahead.