What are Okay-Beauty, whose Americans are so afraid of lacking? | EUROtoday

22 % of imports of magnificence merchandise within the United States

The Okay-Beauty largely pours its serums and different care world wide, and extra significantly within the United States. According to the International Commerce Commission, quoted by CNN, the nation imports for 1.7 million US {dollars} of merchandise from South Korea, 22 % of all American magnificence imports – earlier than France. However, when he defined the brand new measures of his protectionist coverage on April 2, Donald Trump notably introduced that 25 % customs tariffs would apply to items from South Korea.

Until then, a big fringe of this market had not seen any customs rights by benefiting, since 2012, from a free commerce settlement between the 2 nations. Several manufacturers subsequently worry having to extend their costs.

@Liahyoo as of tODAY, Okay-Beauty will no lengthy “affordable” prefer it was once. President Trump’s New Trade Policy Introduces Sweeping Tariffs-Including A 25% Tax on Imports from South Korea, Overriding the Free Trade Agreement (FTA) That Previously Kept Beauty Products Tariff-Free. This is a historic shift that Will Impact Nearly Every Brand Importing from Korea. At @kravebeauty, we have by no means raised costs in 7 years – or Matcha hemp hydrating cleanser has been $ 16 since 2017, and we have Always Focused on Adding More Value Instratead of Passing Costs Onto You. But with this Sudden 25% Increase in Costs, We’re going through powerful choices forward. We’re nonetheless determining what this implies for us, however one factor’s for certain—this Industry is about to vary. Stay Tuned. #Kbeauty #tariffs #beautyindustry ♬ Original Sound – Liah Yoo

This is the case of Kravebeauty, whose founder Liah Yoo complained on Tiktok: “You will see a lot of brands increase their prices […] It is inevitable. And I think Kravebeauty will have to do the same thing. Which hurts me, because our positioning was to offer premium, sustainable, below $ 28, we had never set up prices in seven years. An increase that will affect the beauty budget of American consumers.

Another source of concern: the relocation of production, which could impact the quality of the products. Indeed, certain components of South Korean care and creams have not yet been approved by the FDA, the gendarme of foodstuffs and drugs in the United States. If the brands of K-Beauty came to establish themselves in the country of Uncle Sam, they should therefore find a substitute.