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Trump’s newest threat to impose an further full import duty on Chinese goods has been labeled a “classic case” of American hypocrisy, per the China’s leadership.

A official from China’s Commerce Ministry further commented that the nation could enact its own unspecified “countermeasures” if the US President follows through on his threat, emphasizing that the country was “fearless” of a potential trade conflict.

On Friday, Donald Trump responded at the Chinese government’s action to tighten its regulations for foreign shipments of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the international market “captive”.

Additionally, he threatened to cancel a planned talks with China’s President President Xi, which was set for a summit in South Korea before the month ends.

Trump’s comments on Friday shook stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its steepest fall since last spring.

These statements reignited fears of a commercial dispute between the US and China.

In May, the respective governments had agreed to drop triple-digit tariffs on each other’s products, which had led to concerns of trade halting between the two nations.

As a result, American import duties on Chinese imports subject to an extra 30% levy compared with the year’s onset, while items from the United States entering the country face a import levy.

The most recent comments from China – released by the relevant government department in the form of official answers to journalist’s questions – mirrored language from the height of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while supporting Beijing’s overseas sale regulations on rare earths as “standard procedures” to safeguard state interests and that of every country.

The official stated that for “a long time”, the US had “overstretched the concept of domestic safety, exploited export control measures and “implemented” biased policies against China.

“Turning to” tariff threats is not the right way to deal with Beijing,” their representative commented.

“Beijing’s stance” on a tariff war has remained steady: we do not want one, but we are fearless of one.”

The previous week, Beijing announced it was tightening overseas sale regulations on key elements and further resources vital for advanced tech manufacturing.

This was seen as a important measure, as the state handles about ninety percent of the global rare earth supply, which are employed in products such as solar panels and handheld devices.

Latest statements from both governments are being seen by observers as a method of bolstering negotiating stances ahead of upcoming negotiations.

Remains uncertain whether a summit between the former president and Xi Jinping, scheduled at a conference in South Korea before month’s end, will still proceed.