Ikea raises prices as Trump's furniture tariffs hit retailer

Swedish retailer Ikea, known for its low-cost business model, is raising prices due to a new round of tariffs impacting the furniture business. Tolga Öncü, retail manager at Ingka, which operates most Ikea stores around the world, told The Wall Street Journal that the company has had to adapt to the new business environment which means passing on "part of the cost increase to the customers." "We can’t stay immune to absorb all the costs ourselves," he told the outlet. "But the big work sits in finding ways to lower the prices."While Öncü said the company's ambition to lower costs, he acknowled