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Donald Trump’s newest warning to impose an additional 100% tariff on Chinese goods has been called a “typical example” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could enact its own unrevealed “retaliatory steps” if the White House occupant carries out his pledge, adding that the country was “not afraid” of a looming trade conflict.

Last Friday, Trump retaliated at China’s decision to strengthen its policies for overseas sales of rare earth minerals, charging the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.

He also threatened to cancel a arranged summit with China’s President Xi Jinping, which was expected to take place during a meeting in the Republic of Korea later this month.

His statements on that day rattled stock exchanges, with the S&P 500 closing down over two and a half percent, marking its largest decline since April.

The president’s words revived concerns of a commercial dispute between the US and China.

Earlier this year, the two sides had reached an agreement to eliminate significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the two nations.

As a result, US tariffs on Chinese goods facing an added import tax compared with the year’s onset, while US goods entering the Chinese market incur a ten percent duty.

Beijing’s recent statements – issued by the relevant government department in the format of official answers to press queries – mirrored rhetoric from the zenith of the latest commercial tensions.

They criticised American limits on exports on chips and semi-conductors while supporting the country’s own overseas sale regulations on rare earth minerals as “routine measures” to ensure state interests and that of every country.

The spokesperson said that for “many years”, the US had “expanded the interpretation” of domestic safety, abused foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the right way to deal with Beijing,” the spokesperson said.

“China’s position on a import duty dispute has always been consistent: we wish to avoid one, but we are not afraid of one.”

Last week, Beijing revealed it was tightening export controls on rare earth minerals and other materials vital for cutting-edge industry.

This was seen as a important measure, as the nation handles about ninety percent of the world’s rare earths, which are used in products such as photovoltaic modules and mobile phones.

New remarks from both governments are being seen by some as a means of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear whether a summit between Donald Trump and Xi Jinping, scheduled at a conference in the Republic of Korea later this month, will take place as planned.