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Donald Trump’s newest threat to enforce an additional 100% tariff 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 Beijing could enact its own undisclosed “retaliatory steps” if the US President follows through on his pledge, emphasizing that the country was “not afraid” of a possible commercial battle.

This past Friday, Trump responded at China’s decision to tighten its rules for overseas sales of critical elements, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Additionally, he threatened to withdraw from a planned summit with Chinese leader Xi, which was set for a meeting in South Korea in the coming weeks.

Trump’s comments on Friday rattled stock exchanges, with the benchmark US stock index dropping nearly three percent, marking its biggest drop since last spring.

The president’s words revived fears of a commercial dispute between the United States and China.

Earlier this year, the both nations had consented to drop triple-digit tariffs on each other’s goods, which had created the possibility of commerce ceasing between the economic powers.

As a result, United States levies on Chinese goods incurring an added import tax compared with the start of the year, while American products entering the country face a import levy.

China’s latest remarks – released by the relevant government department in the manner of formal replies to press queries – mirrored rhetoric from the peak of the ongoing trade dispute.

Officials denounced United States controls on semiconductors and chips while justifying China’s own restrictions on exports on key elements as “routine measures” to ensure national security and that of every country.

The official said that for “an extended period”, the America had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “enforced” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the correct approach to interact with the Chinese government,” the official said.

“Beijing’s stance” on a tariff war has consistently been steady: we do not want one, but we are unafraid of one.”

Recently, Beijing revealed it was reinforcing overseas sale regulations on key elements and other materials essential to high-technology production.

This was seen as a important measure, as the state refines about ninety percent of the planet’s critical minerals, which are utilized in items such as solar panels and handheld devices.

New remarks from both governments are being seen by some as a means of strengthening positions in preparation for future trade talks.

It is unclear whether a talks between Trump and China’s leader, scheduled at a high-level meeting in Seoul later this month, will still proceed.