IKEA is struggling to stick to famously low prices due to Trump tariffs
IKEA warns of price hikes but certain type of furniture is spared
- IKEA has warned of price increases for US customers due to President Donald Trump’s tariffs.
- The Swedish furniture giant relies heavily on imports into North America and said it cannot absorb all increased costs despite efforts to cut operational expenses.
- Specific products, such as the Uppland sofa and an oak bedroom set, have already seen price hikes.
- Its kitchen cabinet range is sourced in the US, shielding it from expected increases.
- Other major retailers, including Walmart, Target, and Home Depot, have also cautioned about price increases in response to the tariffs, with Goldman Sachs predicting US consumers will bear 55% of the costs.