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Donald Trump’s most recent ultimatum to introduce an extra complete levy on products from China has been called a “classic case” of American hypocrisy, according to the Chinese government.

A representative of the ministry further commented that Beijing could implement its own undisclosed “countermeasures” if the US President follows through on his threat, noting that the country was “unafraid” of a looming commercial battle.

On Friday, Donald Trump retaliated at China’s decision to reinforce its regulations for exports of rare earth minerals, alleging China of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he warned to withdraw from a scheduled summit with Beijing’s head of state President Xi, which was arranged for a meeting in South Korea before the month ends.

Trump’s comments on that day rattled global markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since last spring.

The president’s words reignited concerns of a commercial dispute between the US and China.

This past spring, the two sides had reached an agreement to eliminate high import duties on each other’s products, which had created the possibility of trade halting between the two countries.

Consequently, American import duties on Chinese goods incurring an added 30% levy compared with the start of the year, while American products entering the country incur a import levy.

The most recent comments from China – released by the Commerce Ministry in the manner of official answers to media inquiries – reflected terminology from the peak of the latest commercial tensions.

Officials denounced US export restrictions on electronic components while defending the country’s own export controls on key elements as “routine measures” to protect state interests and that of the global community.

The spokesperson stated that for “an extended period”, the America had “broadened the definition” of state security, misused foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Using” trade levy ultimatums is not the right way to engage with China,” their representative stated.

“Beijing’s stance” on a import duty dispute has always been unchanging: we wish to avoid one, but we are fearless of one.”

Recently, China declared it was reinforcing export controls on rare earth minerals and other materials essential to high-technology production.

This move was regarded as a important measure, as the country refines about 90% of the global rare earth supply, which are used in products such as photovoltaic modules and smartphones.

Latest statements from both governments are being interpreted by observers as a strategy of enhancing bargaining power ahead of forthcoming discussions.

It is unclear whether a meeting between the former president and China’s leader, planned at a conference in the Republic of Korea later this month, will still proceed.