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Trump’s newest threat to introduce an further full import duty on items imported from China has been described as a “classic case” of American hypocrisy, according to the Chinese government.

A representative of the ministry further commented that China could implement its own unrevealed “countermeasures” if the US President carries out his threat, emphasizing that the country was “not afraid” of a looming trade conflict.

This past Friday, Trump retaliated at China’s decision to strengthen its rules for overseas sales of critical elements, charging Beijing of “turning aggressive” and attempting to hold the international market “under its control”.

Additionally, he vowed to pull out of a arranged meeting with China’s President President Xi, which was expected to take place during a conference in South Korea in the coming weeks.

The former president’s remarks on Friday unsettled stock exchanges, with the S&P 500 share index closing down 2.7%, marking its largest decline since earlier this year.

The president’s words reignited concerns of a commercial dispute between the US and China.

Earlier this year, the both nations had agreed to drop significant levies on each other’s goods, which had created the possibility of commerce ceasing between the two nations.

This left, US tariffs on Chinese imports incurring an extra 30% levy compared with the year’s onset, while items from the United States entering China face a ten percent duty.

The most recent comments from China – published by the relevant government department in the manner of written responses to journalist’s questions – mirrored terminology from the peak of the recent trade conflict.

The remarks condemned US export restrictions on electronic components while supporting the country’s own restrictions on exports on key elements as “normal actions” to safeguard national security and that of all nations.

Their representative said that for “a long time”, the United States had “broadened the definition” of state security, misused overseas sale restrictions and “enforced” discriminatory practices against China.

“Resorting to tariff threats is not the right way to engage with China,” the spokesperson stated.

“China’s position on a import duty dispute has always been consistent: we do not want one, but we are unafraid of one.”

Last week, China declared it was tightening foreign shipment restrictions on key elements and further resources vital for cutting-edge industry.

The action was viewed as a key move, as the country processes about 90% of the world’s rare earths, which are utilized in items such as renewable energy components and smartphones.

The recent comments from both governments are being viewed by some as a means of enhancing bargaining power prior to future trade talks.

Remains uncertain whether a meeting between Donald Trump and President Xi, scheduled at a summit in the Republic of Korea later this month, will take place as planned.