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.

Ikea took the unlikely approach of cutting prices as costs were rising. Now, Trump's tariffs could open up a whole new can of worms for the retailer.

Tariffs planned by President-elect Donald Trump will make it harder for IKEA to keep prices low, the chief financial officer of the world’s biggest furniture retailer told Reuters on Wednesday. Trump has pledged big tariffs on imports from the United States’ three largest trading partners,

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

Ingka Group, the largest Ikea retailer, saw a sharp decline in full-year profit after a round of price cuts and tough economic conditions weighed on the bottom line.