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Donald Trump’s newest warning to impose an additional complete levy on Chinese goods has been called a “classic case” of American hypocrisy, according to the China’s leadership.

A Commerce Ministry spokesperson further commented that the nation could introduce its own undisclosed “responsive actions” if the American leader carries out his warning, noting that the country was “fearless” of a looming commercial battle.

This past Friday, Trump responded at China’s decision to strengthen its policies for overseas sales of rare earth minerals, alleging Beijing of “becoming very hostile” and attempting to hold the international market “hostage”.

Additionally, he threatened to pull out of a arranged talks with China’s President Xi, which was arranged for a meeting in the Republic of Korea in the coming weeks.

The former president’s remarks on Friday shook financial markets, with the benchmark US stock index dropping nearly three percent, marking its biggest drop since April.

The president’s words revived fears of a trade war between the United States and China.

In May, the respective governments had agreed to drop high import duties on each other’s products, which had led to concerns of commerce ceasing between the two nations.

Consequently, United States levies on Chinese goods incurring an additional 30% levy compared with the year’s onset, while American products entering the Chinese market incur a import levy.

Beijing’s recent statements – issued by the relevant government department in the form of written responses to media inquiries – reflected terminology from the zenith of the recent trade conflict.

The remarks condemned US export restrictions on semiconductors and chips while supporting the country’s own overseas sale regulations on rare earths as “routine measures” to ensure domestic safety and that of every country.

The official said that for “many years”, the United States had “overstretched the concept of domestic safety, abused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Resorting to import duty warnings is not the right way to engage with Beijing,” the spokesperson said.

“Beijing’s stance” on a trade conflict has remained steady: we wish to avoid one, but we are fearless of one.”

Last week, the Chinese government declared it was tightening overseas sale regulations on key elements and additional substances vital for cutting-edge industry.

This move was regarded as a significant step, as the nation handles about 90% of the world’s rare earths, which are employed in goods such as solar panels and mobile phones.

The recent comments from the US and China are being seen by analysts as a means of strengthening positions prior to upcoming negotiations.

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