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Donald Trump’s most recent ultimatum to introduce an extra 100% tariff on items imported from China has been called a “classic case” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could enact its own unrevealed “countermeasures” if the American leader executes his pledge, emphasizing that the country was “fearless” of a looming trade conflict.

On Friday, the former president retaliated at Beijing’s move to reinforce its regulations for foreign shipments of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the global community “under its control”.

He also warned to cancel a planned meeting with China’s President Xi Jinping, which was set for a summit in Seoul later this month.

His statements on Friday shook financial markets, with the S&P 500 share index falling by 2.7%, marking its biggest drop since last spring.

These statements revived fears of a trade war between the United States and China.

Earlier this year, the both nations had agreed to eliminate significant levies on each other’s products, which had created the possibility of trade halting between the two nations.

Consequently, United States levies on Chinese imports facing an added thirty percent tariff compared with the year’s onset, while US goods entering China are subject to a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the format of formal replies to media inquiries – mirrored rhetoric from the height of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while justifying Beijing’s overseas sale regulations on rare earth minerals as “standard procedures” to protect state interests and that of the global community.

The spokesperson remarked that for “many years”, the US had “overstretched the concept of domestic safety, exploited foreign shipment regulations and “enforced” biased policies against China.

“Turning to” tariff threats is not the right way to interact with China,” their representative said.

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

Last week, China declared it was tightening export controls on rare earth minerals and further resources vital for high-technology production.

This move was regarded as a significant step, as the country refines about ninety percent of the planet’s critical minerals, which are used in products such as renewable energy components and mobile phones.

New remarks from both governments are being viewed by observers as a strategy of strengthening positions in preparation for forthcoming discussions.

It is unclear whether a talks between the former president and President Xi, planned at a high-level meeting in South Korea before month’s end, will go ahead.