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Donald Trump’s most recent ultimatum to introduce an additional full import duty on products from China has been called a “classic case” of American hypocrisy, according to the Beijing administration.

A Commerce Ministry spokesperson further commented that China could implement its own undisclosed “countermeasures” if the American leader executes his pledge, emphasizing that the country was “not afraid” of a possible commercial battle.

On Friday, the former president responded at Beijing’s move to tighten its policies for exports of rare earths, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he warned to withdraw from a planned meeting with Beijing’s head of state President Xi, which was set for a conference in Seoul before the month ends.

Trump’s comments on Friday shook global markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since April.

These statements reignited fears of a trade war between the two economic giants.

This past spring, the respective governments had consented to remove significant levies on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, US tariffs on products from China subject to an additional thirty percent tariff compared with the start of the year, while US goods entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the form of formal replies to press queries – reflected language from the zenith of the ongoing trade dispute.

They criticised American limits on exports on electronic components while defending China’s own export controls on rare earths as “routine measures” to protect state interests and that of the global community.

Their representative remarked that for “many years”, the US had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” biased policies against the Chinese nation.

“Resorting to tariff threats is not the correct approach to interact with the Chinese government,” the official stated.

“China’s position on a trade conflict has always been unchanging: we do not want one, but we are unafraid of one.”

Last week, Beijing announced it was reinforcing foreign shipment restrictions on rare earths and additional substances critical for high-technology production.

This was seen as a important measure, as the nation handles about 90% of the planet’s critical minerals, which are employed in products such as solar panels and mobile phones.

Latest statements from both governments are being interpreted by analysts as a means of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a summit between the former president and President Xi, scheduled at a conference in Seoul in the coming weeks, will still proceed.