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Donald Trump’s latest threat to introduce an additional 100% tariff on Chinese goods has been labeled a “prime illustration” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that China could introduce its own unrevealed “responsive actions” if the US President carries out his pledge, adding that the country was “unafraid” of a looming commercial battle.

This past Friday, Trump hit back at China’s decision to strengthen its policies for foreign shipments of critical elements, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the global community “under its control”.

He also vowed to pull out of a planned summit with Beijing’s head of state Xi, which was set for a summit in the Republic of Korea in the coming weeks.

His statements on Friday shook financial markets, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since last spring.

His comments renewed fears of a trade war between the US and China.

This past spring, the both nations had consented to drop triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two countries.

Consequently, US tariffs on products from China facing an extra 30% levy compared with the year’s onset, while American products entering China incur a import levy.

The most recent comments from China – issued by the relevant government department in the format of written responses to media inquiries – echoed language from the peak of the recent trade conflict.

The remarks condemned US export restrictions on electronic components while supporting China’s own restrictions on exports on rare earth minerals as “standard procedures” to safeguard national security and that of the global community.

The spokesperson said that for “an extended period”, the America had “overstretched the concept of domestic safety, abused overseas sale restrictions and “enforced” discriminatory practices against China.

“Resorting to trade levy ultimatums is not the right way to interact with Beijing,” their representative said.

“The nation’s view” on a import duty dispute has always been consistent: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government revealed it was reinforcing export controls on rare earth minerals and other materials vital for high-technology production.

The action was viewed as a important measure, as the country refines about the vast majority of the world’s rare earths, which are used in items such as photovoltaic modules and mobile phones.

The recent comments from the US and China are being viewed by some as a method of strengthening positions prior to future trade talks.

Remains uncertain whether a talks between Donald Trump and China’s leader, planned at a high-level meeting in South Korea later this month, will still proceed.