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Trump’s latest threat to enforce an further complete levy on items imported from China has been described as a “classic case” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could introduce its own unspecified “responsive actions” if the American leader executes his pledge, noting that the country was “unafraid” of a looming commercial battle.

Last Friday, the former president hit back at Beijing’s move to strengthen its policies for overseas sales of rare earth minerals, charging Beijing of “adopting a confrontational stance” and attempting to hold the global community “captive”.

Furthermore, he vowed to cancel a planned summit with China’s President Xi Jinping, which was set for a conference in Seoul in the coming weeks.

The former president’s remarks on Friday shook global markets, with the S&P 500 falling by nearly three percent, marking its biggest drop since last spring.

His comments revived apprehensions of a commercial dispute between the two economic giants.

Earlier this year, the two sides had reached an agreement to eliminate significant levies on each other’s products, which had led to concerns of commerce ceasing between the two countries.

Consequently, United States levies on Chinese goods subject to an extra 30% levy compared with the start of the year, while US goods entering the Chinese market face a import levy.

Beijing’s recent statements – published by the relevant government department in the manner of written responses to journalist’s questions – reflected rhetoric from the zenith of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while defending the country’s own restrictions on exports on key elements as “routine measures” to protect domestic safety and that of every country.

The spokesperson remarked that for “an extended period”, the US had “overstretched the concept of domestic safety, exploited foreign shipment regulations and “implemented” unfair treatments against Beijing.

“Turning to” import duty warnings is not the right way to engage with China,” the spokesperson commented.

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

Recently, China revealed it was tightening export controls on rare earth minerals and further resources essential to high-technology production.

The action was viewed as a important measure, as the nation processes about 90% of the planet’s critical minerals, which are utilized in goods such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by analysts as a strategy of strengthening positions in preparation for future trade talks.

Remains uncertain whether a summit between Trump and President Xi, scheduled at a conference in Seoul later this month, will go ahead.