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Donald Trump’s most recent warning to impose an extra 100% tariff on products from China has been labeled a “typical example” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry further commented that China could implement its own unrevealed “countermeasures” if the American leader carries out his threat, adding that the country was “fearless” of a possible commercial battle.

This past Friday, Donald Trump retaliated at China’s decision to strengthen its policies for foreign shipments of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “captive”.

He also warned to cancel a arranged summit with Chinese leader Xi, which was set for a meeting in South Korea in the coming weeks.

The former president’s remarks on last Friday shook financial markets, with the benchmark US stock index dropping nearly three percent, marking its largest decline since earlier this year.

His comments revived apprehensions of a trade war between the two economic giants.

In May, the respective governments had consented to remove high import duties on each other’s products, which had led to concerns of commerce ceasing between the two countries.

Consequently, US tariffs on Chinese imports subject to an extra import tax compared with the start of the year, while American products entering the Chinese market incur a ten percent duty.

China’s latest remarks – published by the relevant government department in the format of written responses to media inquiries – reflected language from the height of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while justifying Beijing’s export controls on key elements as “normal actions” to protect national security and that of the global community.

Their representative remarked that for “a long time”, the America had “overstretched the concept of domestic safety, abused foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Resorting to trade levy ultimatums is not the right way to engage with the Chinese government,” the spokesperson said.

“China’s position on a tariff war has remained unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, China declared it was strengthening overseas sale regulations on rare earth minerals and other materials essential to advanced tech manufacturing.

This was seen as a significant step, as the state refines about the vast majority of the global rare earth supply, which are used in goods such as renewable energy components and handheld devices.

The recent comments from Washington and Beijing are being viewed by some as a means of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a summit between Trump and China’s leader, expected at a summit in the Republic of Korea before month’s end, will go ahead.