How the Trump Tariffs Impact the Beauty Industry
Prices will increase and self-funded independant brands will close.
The beauty industry functions through a complex network of international trade relations. The Trump administration’s baseline 10% tariffs on all imported goods will have a significant economic impact on the global beauty and personal care industry.
The beauty industry usually remains stable during uncertain times due to its role in self-care (ie, the considerable growth of skin care sales during COVID-19). However, these global tariffs present obstacles that will significantly impact and alter the industry.