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Donald Trump’s newest ultimatum to enforce an further full import duty on products from China has been labeled a “typical example” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that Beijing could enact its own unrevealed “countermeasures” if the US President follows through on his pledge, emphasizing that the country was “fearless” of a looming trade conflict.

This past Friday, Trump retaliated at Beijing’s move to strengthen its regulations for overseas sales of critical elements, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “hostage”.

Additionally, he vowed to withdraw from a arranged meeting with Chinese leader President Xi, which was set for a summit in South Korea in the coming weeks.

The former president’s remarks on Friday unsettled financial markets, with the S&P 500 falling by over two and a half percent, marking its biggest drop since last spring.

These statements revived apprehensions of a commercial dispute between the two economic giants.

This past spring, the both nations had reached an agreement to eliminate significant levies on each other’s imports, which had created the possibility of bilateral trade stopping between the economic powers.

As a result, American import duties on Chinese imports facing an extra 30% levy compared with the year’s onset, while US goods entering China are subject to a import levy.

Beijing’s recent statements – released by the relevant government department in the format of written responses to journalist’s questions – reflected language from the peak of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while justifying the country’s own overseas sale regulations on key elements as “routine measures” to protect domestic safety and that of all nations.

Their representative said that for “a long time”, the United States had “overstretched the concept of domestic safety, abused export control measures and “adopted biased policies against China.

“Turning to” trade levy ultimatums is not the correct approach to deal with China,” the spokesperson commented.

“Beijing’s stance” on a trade conflict has consistently been steady: we do not want one, but we are not afraid of one.”

The previous week, China declared it was reinforcing overseas sale regulations on rare earths and other materials vital for high-technology production.

This was seen as a key move, as the state handles about 90% of the global rare earth supply, which are utilized in products such as photovoltaic modules and handheld devices.

The recent comments from Washington and Beijing are being interpreted by some as a method of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a meeting between the former president and President Xi, scheduled at a conference in South Korea before month’s end, will take place as planned.