Beauty Business News : 25% Tariff on US Imported Make Up
This is just a very brief posting about something that appeared on Sky News (HERE) this morning. My friend @epiphannie flagged it up to me earlier today – I’ve spoken to a couple of beauty brands who literally know nothing about it! So, the quote, concerning retaliatory tariffs on US imported goods (remember the US slapped a huge tariff on the importation of European steel) is this:
“Officials in Brussels, spearheading the member states’ response, said the list of US imports that will now face an extra duty at the EU border includes steel and aluminium products, agricultural goods and a variety of other products.
Duties of 25% will be applied to the raft of US goods worth €2.8bn – including bourbon, make-up and motorbikes – from 22 June.”
Did you spot that make-up is included? MAKE UP? Looks like it’s true.. the list (HERE) includes Lip make-up preparations, Eye make-up preparations, Manicure or pedicure preparations, Make-up or skin care powders, incl. baby powders, whether or not compressed (excl. medicaments) and Hair Lacquer, It also looks like sanitary products and some bizarre stuff (women’s or girl’s breeches for example!) will also incur the tarrif if they’re imported from the US. This all begins tomorrow (if you want your favourite MAC product stock up now HERE!) but you won’t see a price hike straight away because it doesn’t apply to existing stock, only stock imported from tomorrow (22nd). It’s possible that you won’t see a hike at all because it may be that brands choose to absorb the excess themselves (unlikely) or do a half-and-half so it doesn’t seem so steep.
I find it so weird that nobody is talking about this – 25% is a lot!
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