Trump's tariffs are raising tens of billions of dollars for the federal government. They're also costing consumers, frustrating businesses and hurting the factories they're supposed to help.

At their meeting in South Korea in late October, Trump and Chinese President Xi Jinping agreed to lower tariffs.

Jobs at Aston Martin could be at risk over US tariffs and weak demand in China, the company has warned. The luxury carmaker employs up to 700 people at its St Athan manufacturing plant in the Vale of Glamorgan. In a statement, Aston Martin said any impact on jobs would involve "appropriate consultation" with unions.

Competition, whether from overseas rivals or second-hand goods, has kept the price of furniture relatively low. New tariffs may boost U.S. makers — and raise prices.

In October, small- and mid-sized businesses actually shrank their headcounts, according to payroll processor ADP. That downsizing, said one business owner in Virginia, was due to the “devastating” tariffs.

President Donald Trump on Thursday acknowledged that U.S. consumers are paying more for goods because of the tariffs he has set, a shift in rhetoric even as he insisted that the policy has benefited Americans overall.

The IKEA brand owner said operating profit for the financial year ended August 31 was 1.7 billion euros ($1.98 billion), down from 2.3 billion euros the year before, while revenue fell to 26.3 billion euros from 26.5 billion euros, after it cut prices.

Honda has reported a 37% drop in profit for the first fiscal half through September. The impact of tariffs from President Donald Trump and unfavorable currency rates offset strong motorcycle sales.