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Donald Trump’s latest ultimatum to impose an extra full import duty on products from China has been described as a “typical example” of American hypocrisy, according to the Chinese government.

A official from China’s Commerce Ministry further commented that China could enact its own undisclosed “countermeasures” if the White House occupant follows through on his pledge, emphasizing that the country was “fearless” of a looming commercial battle.

This past Friday, Trump hit back at China’s decision to reinforce its regulations for foreign shipments of critical elements, accusing Beijing of “becoming very hostile” and attempting to hold the global community “under its control”.

Additionally, he vowed to withdraw from a arranged summit with Beijing’s head of state Xi Jinping, which was set for a meeting in South Korea later this month.

His statements on Friday rattled financial markets, with the benchmark US stock index falling by over two and a half percent, marking its steepest fall since last spring.

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

In May, the both nations had consented to drop significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the two countries.

This left, American import duties on Chinese imports incurring an additional thirty percent tariff compared with the year’s onset, while American products entering the country are subject to a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the format of written responses to journalist’s questions – reflected terminology from the peak of the recent trade conflict.

They criticised US export restrictions on chips and semi-conductors while justifying Beijing’s overseas sale regulations on rare earths as “standard procedures” to ensure national security and that of every country.

The official remarked that for “an extended period”, the United States had “expanded the interpretation” of domestic safety, misused overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.

“Resorting to trade levy ultimatums is not the proper method to deal with China,” their representative said.

“The nation’s view” on a import duty dispute has remained unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government announced it was strengthening overseas sale regulations on rare earths and further resources essential to advanced tech manufacturing.

This move was regarded as a key move, as the state handles about ninety percent of the planet’s critical minerals, which are employed in goods such as solar panels and mobile phones.

Latest statements from the US and China are being viewed by observers as a method of strengthening positions prior to upcoming negotiations.

It is unclear whether a meeting between the former president and China’s leader, scheduled at a summit in Seoul later this month, will go ahead.