Brian Kelsey, a senior attorney at the America First Policy Institute who helped write a brief to the Supreme Court defending the tariffs, argues that IEEPA gives Trump the authority to impose tariffs (Kelsey is a former Tennessee state senator who received a pardon from Trump earlier this year):

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.

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.

By Joe Cash and Ethan Wang BEIJING (Reuters) -Chinese exports unexpectedly fell in October after months of front-loading U.S. orders to beat President Donald Trump's tariffs, in a stark reminder of the manufacturing juggernaut's reliance on American consumers even as it woos buyers elsewhere.

Nowhere is the toll of Trump’s trade policies more apparent than in Canada’s manufacturing heartland in the provinces of Ontario and Quebec.

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.

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.