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Trump’s most recent warning to impose an further full import duty on items imported from China has been described as a “classic case” of American hypocrisy, per the Beijing administration.

A official from China’s Commerce Ministry also stated that China could introduce its own undisclosed “countermeasures” if the US President follows through on his threat, emphasizing that the country was “not afraid” of a potential trade war.

Last Friday, Trump hit back at China’s decision to reinforce its policies for overseas sales of rare earths, charging China of “becoming very hostile” and attempting to hold the global community “hostage”.

Furthermore, he warned to cancel a arranged meeting with Chinese leader Xi Jinping, which was arranged for a conference in Seoul in the coming weeks.

His statements on that day unsettled stock exchanges, with the S&P 500 share index falling by 2.7%, marking its biggest drop since last spring.

The president’s words renewed fears of a trade conflict between the two economic giants.

This past spring, the respective governments had reached an agreement to remove significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the two countries.

Consequently, American import duties on Chinese imports subject to an extra import tax compared with the start of the year, while items from the United States entering the country face a import levy.

Beijing’s recent statements – released by the Commerce Ministry in the manner of official answers to media inquiries – echoed terminology from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while defending the country’s own overseas sale regulations on rare earths as “routine measures” to ensure state interests and that of every country.

Their representative stated that for “an extended period”, the US had “expanded the interpretation” of national security, exploited foreign shipment regulations and “enforced” biased policies against the Chinese nation.

“Resorting to tariff threats is not the correct approach to interact with China,” the spokesperson said.

“China’s position on a tariff war has always been unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government declared it was tightening overseas sale regulations on rare earth minerals and further resources essential to advanced tech manufacturing.

The action was viewed as a significant step, as the state processes about the vast majority of the global rare earth supply, which are employed in goods such as solar panels and smartphones.

Latest statements from Washington and Beijing are being seen by observers as a method of strengthening positions in preparation for forthcoming discussions.

It is unclear whether a meeting between Donald Trump and President Xi, planned at a high-level meeting in Seoul before month’s end, will still proceed.