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Trump’s most recent warning to impose an additional 100% tariff on products from China has been called a “prime illustration” of American hypocrisy, as stated by the Chinese government.

A Commerce Ministry spokesperson also stated that China could enact its own unspecified “countermeasures” if the White House occupant carries out his threat, adding that the country was “fearless” of a potential trade war.

Last Friday, Trump responded at the Chinese government’s action to reinforce its regulations for exports of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the international market “captive”.

He also threatened to cancel a planned meeting with Chinese leader Xi, which was arranged for a conference in the Republic of Korea before the month ends.

Trump’s comments on Friday rattled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its largest decline since April.

The president’s words revived apprehensions of a trade war between the US and China.

Earlier this year, the two sides had consented to remove high import duties on each other’s imports, which had created the possibility of trade halting between the two countries.

This left, United States levies on Chinese goods facing an added thirty percent tariff compared with the start of the year, while US goods entering China are subject to a ten percent duty.

Beijing’s recent statements – issued by the relevant government department in the manner of official answers to journalist’s questions – echoed language from the zenith of the ongoing trade dispute.

They criticised 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 all nations.

Their representative remarked that for “an extended period”, the United States had “expanded the interpretation” of national security, exploited overseas sale restrictions and “enforced” discriminatory practices against China.

“Resorting to trade levy ultimatums is not the correct approach to engage with China,” their representative said.

“Beijing’s stance” on a tariff war has remained unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, China declared it was tightening export controls on key elements and additional substances vital for advanced tech manufacturing.

This move was regarded as a key move, as the country refines about 90% of the world’s rare earths, which are utilized in goods such as photovoltaic modules and handheld devices.

Latest statements from the US and China are being interpreted by some as a means of strengthening positions ahead of upcoming negotiations.

Remains uncertain whether a meeting between the former president and Xi Jinping, scheduled at a summit in Seoul in the coming weeks, will still proceed.