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The former US president’s most recent threat to introduce an further complete levy on Chinese goods has been called a “typical example” of American hypocrisy, as stated by the Chinese government.

A official from China’s Commerce Ministry also stated that the nation could introduce its own undisclosed “countermeasures” if the American leader executes his threat, noting that the country was “not afraid” of a looming trade war.

On Friday, Donald Trump hit back at the Chinese government’s action to reinforce its policies for overseas sales of critical elements, accusing Beijing of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he warned to withdraw from a arranged summit with China’s President Xi Jinping, which was set for a summit in South Korea before the month ends.

His statements on last Friday unsettled financial markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since April.

His comments reignited apprehensions of a trade conflict between the US and China.

In May, the both nations had consented to remove high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, American import duties on Chinese imports facing an added 30% levy compared with the start of the year, while American products entering the Chinese market face a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the form of written responses to journalist’s questions – echoed terminology from the peak of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while defending China’s own restrictions on exports on key elements as “normal actions” to protect national security and that of the global community.

The spokesperson remarked that for “an extended period”, the America had “overstretched the concept of state security, exploited export control measures and “implemented” biased policies against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to interact with China,” the official said.

“Beijing’s stance” on a import duty dispute has consistently been consistent: we are not seeking one, but we are not afraid of one.”

Recently, Beijing revealed it was strengthening export controls on key elements and further resources essential to cutting-edge industry.

This move was regarded as a key move, as the state refines about 90% of the global rare earth supply, which are utilized in items such as solar panels and mobile phones.

The recent comments from both governments are being seen by some as a strategy of bolstering negotiating stances prior to upcoming negotiations.

Remains uncertain whether a summit between Donald Trump and President Xi, scheduled at a summit in South Korea before month’s end, will still proceed.