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Donald Trump’s newest warning to impose an additional full import duty on items imported from China has been called a “prime illustration” of American hypocrisy, according to the China’s leadership.

A representative of the ministry also stated that the nation could implement its own unrevealed “retaliatory steps” if the US President carries out his warning, adding that the country was “fearless” of a looming trade conflict.

Last Friday, Trump responded at the Chinese government’s action to tighten its rules for overseas sales of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he warned to withdraw from a scheduled summit with Chinese leader President Xi, which was expected to take place during a summit in Seoul in the coming weeks.

Trump’s comments on Friday rattled stock exchanges, with the S&P 500 share index dropping 2.7%, marking its biggest drop since earlier this year.

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

In May, the both nations had agreed to eliminate triple-digit tariffs on each other’s imports, which had led to concerns of commerce ceasing between the two countries.

As a result, United States levies on products from China subject to an added thirty percent tariff compared with the year’s onset, while US goods entering the country face a import levy.

China’s latest remarks – released by the relevant government department in the format of formal replies to journalist’s questions – mirrored rhetoric from the height of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while justifying Beijing’s overseas sale regulations on rare earths as “normal actions” to safeguard state interests and that of the global community.

Their representative stated that for “many years”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “adopted unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the correct approach to interact with Beijing,” the spokesperson commented.

“The nation’s view” on a trade conflict has consistently been steady: we wish to avoid one, but we are not afraid of one.”

Recently, China declared it was strengthening overseas sale regulations on rare earths and further resources vital for high-technology production.

This move was regarded as a key move, as the country processes about the vast majority of the global rare earth supply, which are used in items such as photovoltaic modules and handheld devices.

New remarks from Washington and Beijing are being seen by analysts as a strategy of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a summit between Donald Trump and President Xi, planned at a conference in Seoul later this month, will go ahead.