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The former US president’s latest ultimatum to introduce an extra full import duty on products from China has been called a “prime illustration” of American hypocrisy, per the Chinese government.

A official from China’s Commerce Ministry also stated that Beijing could introduce its own undisclosed “retaliatory steps” if the American leader follows through on his warning, noting that the country was “fearless” of a looming trade war.

This past Friday, Donald Trump responded at China’s decision to reinforce its regulations for exports of critical elements, alleging China of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he vowed to pull out of a planned summit with China’s President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

The former president’s remarks on last Friday shook stock exchanges, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since last spring.

These statements reignited fears of a trade war between the two economic giants.

In May, the respective governments had reached an agreement to remove significant levies on each other’s products, which had raised the prospect of commerce ceasing between the economic powers.

This left, United States levies on Chinese goods subject to an additional 30% levy compared with the year’s onset, while American products entering the Chinese market are subject to a 10% tariff.

Beijing’s recent statements – published by the Ministry of Commerce in the form of official answers to media inquiries – reflected rhetoric from the height of the ongoing trade dispute.

They criticised United States controls on semiconductors and chips while justifying the country’s own restrictions on exports on rare earths as “routine measures” to safeguard national security and that of every country.

Their representative remarked that for “many years”, the America had “broadened the definition” of domestic safety, misused overseas sale restrictions and “adopted discriminatory practices against China.

“Using” import duty warnings is not the right way to engage with China,” their representative stated.

“The nation’s view” on a import duty dispute has always been steady: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government declared it was tightening export controls on key elements and further resources critical for high-technology production.

This move was regarded as a important measure, as the nation refines about 90% of the global rare earth supply, which are employed in items such as solar panels and smartphones.

The recent comments from the US and China are being viewed by observers as a means of enhancing bargaining power ahead of future trade talks.

It is unclear whether a summit between the former president and Xi Jinping, planned at a high-level meeting in Seoul in the coming weeks, will still proceed.