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Donald Trump’s newest ultimatum to impose an additional full import duty on products from China has been labeled a “typical example” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson further commented that China could introduce its own unrevealed “responsive actions” if the White House occupant follows through on his pledge, noting that the country was “not afraid” of a possible trade war.

This past Friday, Trump retaliated at Beijing’s move to strengthen its rules for overseas sales of rare earths, charging Beijing of “becoming very hostile” and attempting to hold the global community “under its control”.

Furthermore, he threatened to cancel a planned summit with China’s President Xi Jinping, which was expected to take place during a conference in South Korea later this month.

His statements on Friday shook stock exchanges, with the S&P 500 dropping 2.7%, marking its steepest fall since last spring.

These statements reignited apprehensions of a trade war between the United States and China.

This past spring, the respective governments had agreed to drop triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the economic powers.

As a result, US tariffs on Chinese imports incurring an added 30% levy compared with the year’s onset, while items from the United States entering the Chinese market face a 10% tariff.

The most recent comments from China – released by the relevant government department in the form of formal replies to media inquiries – reflected rhetoric from the zenith of the latest commercial tensions.

They criticised US export restrictions on semiconductors and chips while justifying the country’s own export controls on rare earths as “standard procedures” to ensure domestic safety and that of all nations.

Their representative said that for “many years”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” biased policies against Beijing.

“Turning to” import duty warnings is not the proper method to engage with China,” the official said.

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

The previous week, China revealed it was reinforcing export controls on rare earth minerals and further resources vital for high-technology production.

This move was regarded as a significant step, as the state refines about the vast majority of the world’s rare earths, which are utilized in goods such as renewable energy components and handheld devices.

Latest statements from Washington and Beijing are being seen by observers as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a talks between Donald Trump and China’s leader, planned at a conference in South Korea before month’s end, will take place as planned.