Beauty Group, including Galina L’Oréal leader, hope that the European Union rules US cosmetic goods when wide tariffs will unfold next month.
L’Oréal, the Paris company that owns such brands as Lancome, Maybelline and Cera Ve, has a great presence in the US-American region last year exploded in 11.8 billion euros.
However, new tariffs can significantly interfere with beauty trade, as there is a large top in the region. Only in France, beauty imports from the USA 500 million dollarsWhile exports costs approximately 2.5 billion euros, according to the industry quoted by Reuters.
“If there is this strength for beauty, it will be fined Europe much more than American business and company,” said L’Oréal CEO Nicholas Hieronym a Financial times. He added that last week he called on the officials he met in Brussels to look at the trade balance before exposing entire categories of the future tariff.
15 other beauty executives joined the hieronimus, which warned the EU that its tariff measures could harm their activities.
“My only request to the people I met (in Brussels) is to say: look at the balance of trade and do not put the red flag on the category where we need to lose more than to win,” he said.
When US President Donald Trump said Retaliation of tariffs On American goods earlier in March. These include shampoos, perfumes, coloring, sunscreen and more.
According to Oxford Economics, beauty and personal hygiene products bring 180 billion euros in GDP block and 2 million people work. Germany and France – the largest region makeup Markets – and live for Beersdorf and L’arel respectively.
Beauty comes at the expense
Two -thirds on the base of Hamburg beersdorf American business It comes from the beauty made by the United States, primarily in Mexico. The company moves through what tariffs might mean Continuing to serve the developing market in the US, including increasing stocks and hiking.
The US market was especially attractive for beauty against the background of a luxury slowing. The country appeared as A bright spot As the consumer spending rose.
Europe itself is heavy in cosmetics. However, small and average US companies enjoy export to the region because of Low tariffs on imports on personal hygiene goods.
Any level of tariffs under the Trump administration had to emphasize the global network of beauty supplies. Creating production from scratch for some more specialized raw materials used to create cosmetics can be complicated and expensive.
If it was just a case where the American tariffs, the L’Oréal hierarch was not too concerned because many of its beauty are produced in the country.
However it exports its flavors from Europe.
Beiersdorf CEO Vincent Wester said if the EU did not alleviate how its tariffs were used to American cosmetics, it would be like “shooting in the leg” he said Foot.
“If we need it, we will raise prices in the US, which will harm consumers in the US and Canada, as well as harm our market share … So leave us from this, enjoy what we bring the economy and will not fire where there is no need,” he added.
Tariffs will come into force on 13 April but the EU is still Requirement of views from the enterprises affected by the measures.
Representatives L’Oréal, Beiersdorf and EU did not return right away Wealthrequests for a comment.
Originally this story was presented on Fortune.com
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2025-03-24 13:58:00
Prarthana Prakash
