The beauty industry impact of Trump’s tariffs

By Julia Wray | Published: 26-Nov-2024
Regulatory

US President-elect Donald Trump has promised a 25% tariff on all goods from Mexico and Canada, with an additional 10% tariff for Chinese goods. How will this affect cosmetics companies?

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Donald Trump is poised to hit China, Mexico and Canada with new tariffs upon his inauguration on 20 January 2025.  

The US President-elect has promised a 25% tariff from day one on all goods from Mexico and Canada.

The aim is to force the US’ neighbouring nations to crack down on illegal immigration and drug smuggling into the US.

An additional 10% tariff will be added to Chinese goods in a bid to reduce fentanyl smuggling in particular.

But what will these tariffs mean for the cosmetics industry – both for beauty brands and all of the industries supporting them?

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  • CTPA Cosmetic Toiletry and Perfumery Association
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