Donald Trump's "explosive" tariffs are now in effect, including 104% on China, the world's biggest exporter. The list also includes 60 of the "worst offending" countries, who will face taxation ranging from 11% to 50%.

The extra tariffs on China kicked in after Beijing refused to meet Trump's deadline to drop its own retaliatory duties against the US, BBC reported.

Trump has stated that tariffs are necessary for his economic vision, but experts warn that a full-fledged trade war is possible. Some Americans support tariffs, while others fear a recession.

US financial markets recovered early on Tuesday, but then fell once again after the White House confirmed the extra tariffs on China, according to BBC.

While China prepares to impose a 104% tax on many of its exports to the United States, anti-Trump sentiment is growing on the Chinese internet.