Washington DC, April 8 -- The White House on Tuesday (local time) announced the imposition of a 104 per cent tariff on China starting Wednesday, marking a significant escalation amid the tariff tension which have shaken the markets.

During a press briefing, White House Press Secretary Karoline Leavitt emphasised that it was a "mistake" for China to retaliate against the US, asserting that when America is challenged, the response is forceful and unyielding.

"It was a mistake for China to retaliate. When America is punched, He punches back harder. That's why there will be 104 per cent tariffs going into effect on China tonight... If China reaches out to make a deal, he will be incredibly gracious," Leavitt declared.

Leabvitt stated that ...