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Trump’s newest warning to enforce an further complete levy on Chinese goods has been labeled a “classic case” of American hypocrisy, as stated by the Beijing administration.

A representative of the ministry additionally remarked that the nation could implement its own undisclosed “countermeasures” if the US President executes his threat, noting that the country was “not afraid” of a possible commercial battle.

This past Friday, Trump responded at Beijing’s move to tighten its regulations for foreign shipments of rare earths, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to cancel a scheduled meeting with Beijing’s head of state Xi Jinping, which was arranged for a meeting in the Republic of Korea later this month.

His statements on Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its steepest fall since earlier this year.

His comments renewed apprehensions of a trade conflict between the United States and China.

This past spring, the two sides had agreed to remove triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the two nations.

Consequently, American import duties on products from China subject to an extra 30% levy compared with the year’s onset, while items from the United States entering the Chinese market incur a 10% tariff.

Beijing’s recent statements – published by the relevant government department in the format of formal replies to press queries – mirrored rhetoric from the height of the recent trade conflict.

Officials denounced US export restrictions on electronic components while justifying the country’s own restrictions on exports on key elements as “normal actions” to safeguard national security and that of all nations.

The spokesperson stated that for “many years”, the America had “broadened the definition” of national security, abused foreign shipment regulations and “implemented” unfair treatments against the Chinese nation.

“Using” import duty warnings is not the correct approach to deal with China,” the spokesperson commented.

“Beijing’s stance” on a tariff war has always been steady: we wish to avoid one, but we are not afraid of one.”

Recently, Beijing revealed it was tightening foreign shipment restrictions on rare earth minerals and other materials essential to advanced tech manufacturing.

This was seen as a key move, as the state processes about 90% of the world’s rare earths, which are employed in products such as photovoltaic modules and mobile phones.

Latest statements from both governments are being viewed by observers as a means of enhancing bargaining power in preparation for upcoming negotiations.

Remains uncertain whether a summit between Donald Trump and President Xi, expected at a conference in the Republic of Korea in the coming weeks, will still proceed.