Nike and Apple were among brands worst hit, but Trump maintained the US economy would ultimately "boom".

Oracle and the founder of OnlyFans are also among names that have cropped up as the president seeks to broker a deal.

The Chief Executive of Eli Lilly has told the BBC that he is doubtful tariffs could bring manufacturing jobs to the US whilst raising billions in tax revenue

The business secretary says he wants to reach an economic deal but would take "necessary steps' if talks failed.

The brands are warning of the impact of employer National Insurance Contribution rises which kick in on Sunday.