H&M CEO Warns of Price Hikes Amid U.S. Tariff Changes

H&M's CEO warns that U.S. import tariffs introduced by President Trump will lead to higher prices for American consumers as the retail giant shifts its supply chain. With major manufacturing in China and Bangladesh, H&M is facing increased costs and may hike prices to offset the tariff impact.

The recent decision by U.S. President Donald Trump to impose import tariffs is expected to raise prices for American consumers, H&M CEO Daniel Erver said on Thursday. The fast-fashion retailer is modifying its supply chain to navigate new trade barriers.

The U.S. stands as H&M's second-largest market, necessitating potential price hikes due to these tariffs. Erver underscored the tariffs' detrimental impact on global trade, advocating for fair and equal trade practices.

With uncertainties surrounding the next targets of the tariffs, H&M is proactively adjusting its production plans to less affected regions to maintain product quality and mitigate tariff-related costs.

(With inputs from agencies.)