US President Donald Trump's actions to raise import tariffs will drive prices up for American consumers, the CEO of fast-fashion retailer H&M said on Thursday, as the company shifts its supply chain to adapt to new trade barriers. H&M's biggest manufacturing hubs are China, which Trump has already hit with an extra 20 per cent tariff on imports, and Bangladesh, one of the countries at risk of so-called "reciprocal" tariffs Trump plans to announce on April 2. The US is H&M's second-biggest market by sales, and the retailer is likely to have to hike prices to mitigate the impact of tariffs.