Donald Trump 's admiration for "renegade" Brexit Britain may mean it is spared tariffs under his incoming presidency, according to a US politician. Phil Murphy, the Democratic governor of New Jersey, said he thinks the US president-elect will look favourably on the UK choosing to leave the "bureaucratic blob" of the European Union.

A number of U.S. companies whose products are imported from China are devising alternative plans to source their goods from elsewhere. President-elect Trump says he wants to impose 10 percent tariffs on most imports and 60 percent or more on Chinese goods.

Donald Trump says foreign nations will pay the costs of tariffs he imposes, but usually it's U.S. consumers who pick up the tab.

UK could be spared from Trump's tariffs because of Brexit, says New Jersey Governor. Source: Sky News Retailers have been preparing for this. Perhaps one of Donald Trump's most remarkable accomplishments during his last term was how he reoriented the political landscape around trade.

Here are some of his options, as well as the potential roadblocks and consequences and how countries, industries and companies might respond.

President-elect Donald Trump's calls for higher taxes on imports is already triggering discussions in the halls of Congress and the corporate board rooms of America. Trump's transition team has reportedly had discussions with Rep.