Uncertain Tariffs Make Beauty a Lot Uglier
President Donald Trump’s alleged “liberation day” for American trade is set for April 2 and will usher in higher tariffs on top of those already in place. While the White House is narrowing its approach on reciprocal tariffs and even preparing to exempt certain countries, new fees on imports will raise the price of everything from automobiles to daily essentials, including beauty products.
As with most other sectors of the economy, the beauty industry relies heavily on trade. In 2023, the U.S. imported $6.58 billion and exported $6.86 billion in beauty products. Even though this represents a near one-to-one import-to-export ratio, only 7 percent of beauty and personal care products, like deodorants, soaps, and oral care items, sold in the U.S. are manufactured domestically.
While the president hasn’t levied an import tax on beauty products specifically (at least not yet), Trump-imposed tariffs have already affected $445 billion in total trade with China. His current 20 percent levy on all Chinese goods includes plastic products and packaging, which is a commonality between all beauty products, from the luxurious to the utilitarian.
The U.S. imported $114 billion worth of plastics and rubbers in 2023, making it the largest importer of plastic products in the world. Meanwhile, China was the largest exporter, exporting $159 billion worth of plastic goods that same
Article from Reason.com
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