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China's foreign ministry on Tuesday accused the United States of "lying through their teeth" and suggested the country mind its own business as the war of words between the world's two biggest economic powers escalated.

"We advise American politicians to reflect on their own problems and try their best to control the [coronavirus] epidemic as soon as possible instead of continuing to play tricks to deflect blame," spokesman Geng Shuang said.

The comments came on the heels of President Trump suggesting in a press conference on Monday that the U.S. would be seeking "substantial" compensation for China's handling of the global pandemic.

"We are not happy with China," Trump said. "We are not happy with that whole situation because we believe it could have been stopped at the source. It could have been stopped quickly and it wouldn't have spread all over the world."

He added that the United States is considering several options to "hold them accountable."

When asked about a recent editorial in the German newspaper Bild that printed a mockup of a $162 billion bill to China for economic damages, Trump replied, "Germany's looking at things, and we're looking at things, and we're talking about a lot more money than Germany's talking about."

Trump, who has been criticized for downplaying the virus despite early warnings, has largely led the charge against China.

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Australia has also been on the receiving end of Beijing's spiral. China's ambassador to Australia warned on Monday that the government's call for an independent international inquiry into the origins of the pandemic could lead to a Chinese boycott of Australian products.

"Maybe the ordinary people will say, 'Why should we drink Australian wine? Eat Australian beef?'" Ambassador Chen Jingye threatened, The Australian Financial Review reported.

Australian's foreign minister Marise Payne hit back, dismissing China's attempt at "economic coercion."

That didn't sit well with China, which prompted Hu Xijin, editor-in-chief of the Global Times, to tweet: "Let me give a 'coercion' to Australia. As its attitude toward China becomes worse and worse, Chinese companies will definitely reduce economic cooperation with Australia, and the number of Chinese students & visitors going to Australia will also decrease. Time will prove it all."

The Global Times is published by the People's Daily, the official newspaper of China's ruling Communist Party.