Trump tariffs could increase prices

(CNN)– President-elect Donald Trump’s tariff plans could lead to higher prices for Americans.

The CEO of the company behind IKEA says Trump’s trade proposals could make it tougher to keep prices low.

Jesper Brodin says tariffs will put a strain on international businesses and trade.

Monday, Nov. 25, Trump promised massive hikes in tariffs on goods coming from Mexico, Canada, and China.

About 30% of IKEA’s products come from Asia, mostly China, so tariffs will hit shoppers’ wallets hard.