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Donald Trump’s latest threat to enforce an further 100% tariff on Chinese goods has been called a “classic case” of American hypocrisy, according to the Beijing administration.

A official from China’s Commerce Ministry also stated that the nation could implement its own undisclosed “countermeasures” if the American leader follows through on his pledge, adding that the country was “fearless” of a possible trade war.

This past Friday, Trump hit back at Beijing’s move to strengthen its regulations for foreign shipments of rare earths, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

He also warned to cancel a arranged summit with China’s President President Xi, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

Trump’s comments on Friday unsettled financial markets, with the S&P 500 share index dropping over two and a half percent, marking its steepest fall since April.

His comments revived concerns of a trade conflict between the two economic giants.

Earlier this year, the both nations had agreed to drop high import duties on each other’s goods, which had created the possibility of commerce ceasing between the economic powers.

This left, US tariffs on Chinese imports facing an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the Chinese market are subject to a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the format of official answers to media inquiries – reflected terminology from the height of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while justifying the country’s own export controls on key elements as “standard procedures” to ensure state interests and that of every country.

The official said that for “many years”, the America had “broadened the definition” of state security, misused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Using” trade levy ultimatums is not the correct approach to interact with Beijing,” the official stated.

“The nation’s view” on a tariff war has remained unchanging: we are not seeking one, but we are unafraid of one.”

Last week, China announced it was tightening overseas sale regulations on key elements and further resources critical for advanced tech manufacturing.

The action was viewed as a key move, as the country refines about the vast majority of the global rare earth supply, which are utilized in goods such as photovoltaic modules and smartphones.

New remarks from both governments are being interpreted by observers as a means of bolstering negotiating stances in preparation for future trade talks.

Remains uncertain whether a meeting between Donald Trump and Xi Jinping, planned at a conference in the Republic of Korea in the coming weeks, will take place as planned.