China hits back

[Anchor]

China has pulled out the "counterattack" card it had warned about in response to the U.S. reciprocal tariffs.

China announced it would impose an additional 34% tariff on all U.S. imports, matching the U.S.'s reciprocal tariff rate.

The European Union is also considering retaliatory tariffs on American products.

Kim Min-jung reports from Beijing.

[Report]

China's 'counterattack' came just one day after the announcement of the U.S. reciprocal tariffs.

The State Council of China announced that starting from noon on Apr. 10, an additional 34% tariff will be imposed on all American imports.

This figure matches the reciprocal tariff rate announced by the U.S., clearly indicating it is a 'retaliation.'

[China CCTV News: "The U.S. action is not in line with international trade rules and severely undermines China's legitimate rights.]

China has also announced it will restrict exports of key minerals and rare earth elements critical to advanced industries that U.S. President Trump has emphasized the importance of.

As of 2023, China accounts for 80% of the world's rare earth reserves.

However, China has set the tariff imposition date six days later, leaving room for negotiations.

In a situation of sluggish domestic demand, a full-scale trade war that impacts exports is also a burden for China.

The European Union is also considering retaliatory tariffs of up to 50% on American products worth 42 trillion won, but with the caveat that this would only happen if negotiations on reciprocal tariffs with the U.S. fail.

This is Kim Min-jung reporting for KBS News from Beijing.