The US is seeing increased tariffs income, but there are signs of some countries diverting trade from America.

One economist told Newsweek that companies may be wary of "consumer backlash" if they hike prices to mitigate the tariffs' impact.

President Donald Trump has announced a flurry of trade activity ahead of Friday's official start of his new tariffs regime — executive actions including 50% tariffs on Brazil, a 15% tax on American imports from South Korea and an end to exemptions for imported goods worth less than $800.