The chief executive of the company behind Ikea furniture stores says Donald Trump’s planned tariffs will make it more difficult to keep its prices low, joining a growing chorus of business leaders in warning of a potential hit to people’s wallets from the levies.

Trump has pledged big tariffs on imports from trading partners, causing concern among companies whose supply chains depends on smooth global trade.

Donald Trump’s plans to impose sweeping tariffs on goods entering the US risk leading to higher prices for customers, Ikea has suggested.