From sweets to sofas: Trump’s tariff plan may hike prices on popular imports in Czechia

With Donald Trump winning the 2024 U.S. presidential election, his plan to impose a universal tariff on EU imports might mean higher prices for popular goods in Czechia—from your favorite American snacks to IKEA furniture.

The Candy Store, a major importer of American snacks in Prague, is preparing for possible price hikes on favorites like Twinkies, Reese’s Peanut Butter Cups, and Cheetos. The store reps said that new tariffs and currency changes could increase prices by 10–20 percent. “We are mainly worried about customs duties, both from the side of the U.S. and the EU. There is also a possibility of the Czech crown weakening against the dollar,” the Candy Store told Czech Television last week.

Even though IKEA sources much of its European inventory locally, global shipping costs could mean higher prices on household staples, from sofas to storage units. Analysts warn these hikes will ultimately hit consumers.

And if you want to fill your IKEA wardrobe? As tariffs increase import costs, you might pay more for budget-friendly brands like Shein and Temu. If trade tensions escalate, further shipping scrutiny could add extra costs to your favorite affordable finds.

It’s worth noting that trade tensions could lead to increased scrutiny of shipping practices, such as blocking or delaying shipments from certain Chinese suppliers. This, too, would push up costs for Asian businesses and the consumer.

"Even small increases can make a big difference to consumers who depend on affordable options," economist Petr Pelc told Czech media outlet Deník.

For those living in Czechia, Trump’s plan to place a 10-percent tariff on all EU imports will affect many day-to-day purchases. Tariffs on imports will also impact Czechia’s automotive industry, which is a major economic player. With potential decreased demand, the Czech economy could face a hit, and the average consumer could be hit hard. Kovanda predicts a Trump presidency could cost Czech households around CZK 91,000 annually.