K-Beauty Panic: How Tariffs Could Disrupt South Korean Cosmetics Invasion
South Korean beauty products face a potential 25% tariff in the US, causing consumer anxiety and stockpiling. As the demand for Korean cosmetics soared over years along with K-pop's global influence, there's concern over potential price hikes and reduced availability if tariff agreements falter.
Tensions rise as South Korean beauty products could soon face a 25% tariff in the United States. Fans of K-Beauty are scrambling to stock up ahead of expected price increases, as talks falter on a trade agreement.
Asian cosmetics have dominated the beauty scene, with South Korea leading in exports. Data reveals the US imported $1.7 billion worth of South Korean beauty products in 2024, a significant 54% rise from the prior year.
Industry experts warn that the tariffs could diminish product variety and choice for American consumers, despite the enduring popularity of Korean skincare. Retailers are grappling with potential cost increases, raising concerns about market shifts and consumer loyalty.
(With inputs from agencies.)
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