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The former US president’s latest threat to introduce an extra 100% tariff on items imported from China 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 Beijing could introduce its own undisclosed “countermeasures” if the American leader follows through on his warning, adding that the country was “fearless” of a possible commercial battle.

On Friday, Trump hit back at China’s decision to strengthen its rules for overseas sales of rare earths, charging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also warned to pull out of a planned summit with Beijing’s head of state President Xi, which was arranged for a meeting in Seoul before the month ends.

Trump’s comments on last Friday rattled global markets, with the S&P 500 share index dropping 2.7%, marking its biggest drop since earlier this year.

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

In May, the two sides had consented to eliminate triple-digit tariffs on each other’s goods, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, US tariffs on Chinese imports facing an added import tax compared with the year’s onset, while US goods entering the country face a 10% tariff.

Beijing’s recent statements – published by the Commerce Ministry in the manner of written responses to journalist’s questions – reflected language from the height of the ongoing trade dispute.

They criticised US export restrictions on chips and semi-conductors while justifying the country’s own overseas sale regulations on key elements as “normal actions” to protect state interests and that of all nations.

The spokesperson said that for “many years”, the US had “expanded the interpretation” of national security, misused overseas sale restrictions and “enforced” biased policies against the Chinese nation.

“Resorting to trade levy ultimatums is not the proper method to engage with Beijing,” the spokesperson said.

“The nation’s view” on a tariff war has consistently been unchanging: we wish to avoid one, but we are unafraid of one.”

Recently, Beijing revealed it was strengthening overseas sale regulations on key elements and additional substances essential to advanced tech manufacturing.

The action was viewed as a significant step, as the state refines about 90% of the planet’s critical minerals, which are employed in items such as photovoltaic modules and smartphones.

Latest statements from Washington and Beijing are being interpreted by some as a method of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a summit between Trump and China’s leader, scheduled at a conference in the Republic of Korea later this month, will still proceed.