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Trump’s newest ultimatum to enforce an further complete levy on items imported from China has been labeled a “typical example” of American hypocrisy, per the Chinese government.

A representative of the ministry additionally remarked that China could enact its own undisclosed “retaliatory steps” if the American leader follows through on his warning, adding that the country was “not afraid” of a possible commercial battle.

Last Friday, Donald Trump retaliated at China’s decision to reinforce its rules for exports of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “under its control”.

He also threatened to withdraw from a scheduled summit with Beijing’s head of state Xi Jinping, which was expected to take place during a summit in the Republic of Korea later this month.

Trump’s comments on Friday shook stock exchanges, with the S&P 500 share index dropping nearly three percent, marking its steepest fall since April.

The president’s words renewed fears of a commercial dispute between the US and China.

Earlier this year, the respective governments had reached an agreement to eliminate significant levies on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, United States levies on products from China incurring an additional thirty percent tariff compared with the year’s onset, while American products entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – issued by the Ministry of Commerce in the manner of written responses to journalist’s questions – echoed rhetoric from the zenith of the recent trade conflict.

The remarks condemned US export restrictions on chips and semi-conductors while justifying the country’s own overseas sale regulations on key elements as “standard procedures” to safeguard state interests and that of all nations.

The official said that for “an extended period”, the United States had “expanded the interpretation” of domestic safety, exploited export control measures and “implemented” discriminatory practices against the Chinese nation.

“Turning to” trade levy ultimatums is not the right way to interact with Beijing,” their representative commented.

“The nation’s view” on a tariff war has always been steady: we do not want one, but we are unafraid of one.”

Recently, China revealed it was reinforcing export controls on rare earths and additional substances essential to high-technology production.

The action was viewed as a key move, as the country refines about 90% of the global rare earth supply, which are used in goods such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by observers as a means of strengthening positions ahead of upcoming negotiations.

It is unclear whether a summit between Trump and China’s leader, scheduled at a conference in South Korea later this month, will still proceed.