IKEA hikes prices as Trump's furniture tariffs take effect

Driving the news: The furniture retailer confirmed to Axios that it has "made some necessary price adjustments due to rising costs," without referencing tariffs explicitly.

• "Affordability remains a top priority for IKEA, especially during economic uncertainty," the company said.

Zoom in: Tariffs have already driven up prices for some IKEA products, The Wall Street Journal reported this week.

• The price of the company's Uppland sofa has risen to $899 from $849 in August, per archived website pages,. A three-piece oak bedroom set rose from $959 to $1,049.
• "We have to adapt and pass on parts of the cost increase to the customers," executive Tolga Öncü told the Journal.

IKEA reported on Thursday that its total retail sales fell for the second year in a row.

• The company's retail sales were €44.6 billion in fiscal 2025, it said, compared to €45.1 billion a year earlier, a drop of 1%.

• The company pointed to its price-cutting as one explanation.

Catch up quick: Trump's new tariffs on imported furniture, kitchen cabinets and lumber went into effect on Tuesday.

• The levies on these products range from 10% to eventually as much as 50%.

By the numbers: In the first half of 2025, the U.S. imported more than $20 billion worth of consumer furniture, according to Census Bureau data.

• That makes it one of the largest category of consumer goods imports.
• The rise in imports offset the steady decline of the domestic industry.