The US is set to impose 104% tariffs on some Chinese goods from tonight (April8), the White House has confirmed. The move comes after China refused to meet Trump’s deadline to withdraw its own retaliatory levy on the US.

Meanwhile, US stocks have rallied after days of turmoil, but analysts warn confidence in the markets remain fragile. The US is also set to impose so-called “reciprocal” tariffs on about 60 of the “worst offending” countries tonight.