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Trump’s latest threat to introduce an extra complete levy on items imported from China has been labeled a “prime illustration” of American hypocrisy, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unspecified “countermeasures” if the American leader follows through on his threat, adding that the country was “fearless” of a possible trade conflict.

On Friday, Donald Trump hit back at Beijing’s move to reinforce its rules for foreign shipments of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Additionally, he threatened to withdraw from a planned meeting with China’s President Xi, which was expected to take place during a meeting in South Korea later this month.

His statements on that day rattled financial markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since April.

The president’s words reignited fears of a trade war between the US and China.

This past spring, the both nations had reached an agreement to drop significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, US tariffs on Chinese imports incurring an extra import tax compared with the year’s onset, while American products entering the country face a ten percent duty.

The most recent comments from China – issued by the Commerce Ministry in the format of formal replies to media inquiries – reflected language from the zenith of the recent trade conflict.

Officials denounced American limits on exports on chips and semi-conductors while justifying the country’s own export controls on key elements as “standard procedures” to ensure state interests and that of all nations.

Their representative remarked that for “an extended period”, the America had “overstretched the concept of state security, exploited foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Using” import duty warnings is not the right way to deal with China,” their representative commented.

“China’s position on a trade conflict has consistently been steady: we are not seeking one, but we are fearless of one.”

Recently, Beijing announced it was strengthening foreign shipment restrictions on rare earth minerals and other materials vital for cutting-edge industry.

This move was regarded as a key move, as the nation processes about 90% of the planet’s critical minerals, which are utilized in products such as solar panels and handheld devices.

Latest statements from the US and China are being interpreted by some as a strategy of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a summit between Trump and President Xi, scheduled at a high-level meeting in South Korea later this month, will still proceed.