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Donald Trump’s newest ultimatum to impose an further complete levy on products from China has been described as a “prime illustration” of American hypocrisy, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that China could enact its own unrevealed “retaliatory steps” if the American leader executes his pledge, emphasizing that the country was “fearless” of a possible trade conflict.

This past Friday, Donald Trump responded at Beijing’s move to strengthen its regulations for overseas sales of rare earth minerals, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “under its control”.

He also warned to pull out of a scheduled talks with Beijing’s head of state Xi, which was set for a conference in South Korea before the month ends.

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

His comments revived concerns of a trade conflict between the US and China.

This past spring, the two sides had consented to drop high import duties on each other’s products, which had raised the prospect of trade halting between the two countries.

As a result, US tariffs on Chinese imports incurring an additional import tax compared with the start of the year, while items from the United States entering China incur a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the manner of official answers to journalist’s questions – echoed rhetoric from the peak of the latest commercial tensions.

Officials denounced American limits on exports on electronic components while defending Beijing’s export controls on rare earths as “routine measures” to ensure national security and that of every country.

The official said that for “a long time”, the US had “broadened the definition” of domestic safety, abused export control measures and “enforced” biased policies against Beijing.

“Using” tariff threats is not the proper method to engage with the Chinese government,” the spokesperson commented.

“China’s position on a trade conflict has consistently been steady: we wish to avoid one, but we are fearless of one.”

Recently, Beijing declared it was reinforcing export controls on key elements and other materials essential to high-technology production.

The action was viewed as a significant step, as the country refines about 90% of the global rare earth supply, which are employed in items such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by observers as a method of enhancing bargaining power prior to future trade talks.

It is unclear whether a meeting between Donald Trump and President Xi, scheduled at a conference in Seoul before month’s end, will still proceed.