Especially as a consumer who isn’t necessarily an economic policy expert, trying to keep up with the news on tariffs can feel like you’re avoiding sporadic jump scares. The varying proportions for different types of goods from different countries doesn’t just confuse the average American. Many of us are also acutely aware of how much money we spend on the same products that we could have gotten for less just a year ago. This also includes beauty products.
as allure previously reported that Americans are expected to pay between 10% and more than 60% more for imported skin care, makeup and other personal care products. It also said that while it is up to individual companies to decide whether to pass on tariff-related costs to consumers, “there is evidence that prices are likely to rise by the amount of the tariffs.” Philip RothmanPh.D., Professor of Economics, East Carolina University.
Consumers have few choices. You can either pay more for a product you like, or you can look for an equivalent but cheaper product. But many companies are now exercising other options. That means suing the Trump administration over tariffs and, simply put, demanding refunds.
Since the Supreme Court questioned the legality of President Trump’s trade policies in November, bloomberg reportmore than 1,000 corporate entities are suing over billions of dollars in import duties collected by the government, taxes paid by those entities (and often passed on to consumers in the form of higher prices).
Some of them are very famous beauty brands. Cosmetics and personal care companies suing the Trump administration over tariffs include Revlon, Elf Beauty, Chic, Conair, and Bath and Body Works.
It is unclear how these lawsuits will or will develop. Regardless of what the Supreme Court decides, a decision could come as early as today or as late as June. According to forbes– Possible outcomes range from the lawsuit being dismissed by a lower court to the possibility that the Trump administration may seek to impose tariffs through other legal means.
Even more uncertain is what companies will do if they actually collect the duties. But as long as tariffs remain in place, beauty consumers will likely continue to see them reflected in the prices of their favorite products.
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Source: Allure – www.allure.com
