New Delhi, April 9 -- US President Donald Trump on Wednesday told Americans to stay 'cool' despite intensified trade war which has created global market panic.

Trump's remark came amid China and the European Union announcing retaliatory tariffs.

"BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!" Trump posted on his Truth Social platform.

In another post, Trump sought to convince investors that "THIS IS A GREAT TIME TO BUY!!!"

Earlier in the day, China hit back at Trump's tariffs on Chinese exports with 84 per cent levies on its imports from America.

The hike in levies, up from 34 per cent, came hours after Trump's explosive new tariffs on 60 countries, including 104 per cent on China,...