Trump’s Tariffs Could Push Up Prices, Ikea Warns

The CEO of the company behind Ikea warned that President-elect Donald Trump’s proposed tariffs could make it harder to keep prices low, potentially hurting consumers, Hanna Ziady reported for CNN.

About 70% of Ikea’s products are manufactured in Europe, while 30% are made in Asia, predominantly China. I Photo: IKEA

Jesper Brodin, CEO of Ingka Group, said tariffs “make it more difficult for us to maintain low prices and be affordable for many people.”

Speaking ahead of the launch of a pop-up Ikea store in London, he emphasized that tariffs risk being passed onto customers.

Trump has promised significant tariff increases on goods from Mexico, Canada, and China. Officials from these countries have warned that such measures could harm all economies involved.

Mexican President Claudia Sheinbaum criticized the tariffs, warning of a retaliatory cycle that could disrupt international trade.

About 70% of Ikea’s products are manufactured in Europe, while 30% are made in Asia, predominantly China. Brodin expressed concern that tariffs would hurt international companies and trade.