U.S. shoppers are “panic-buying” Korean magnificence merchandise amid Trump’s tariff conflict, retailers say
New York Metropolis — Skincare retailer Senti Senti in Brooklyn sells objects you will not sometimes discover at different retailers within the U.S.
Virtually the entire serums, face masks and lotions offered at Senti Senti are imported from South Korea and Japan.
South Korea tops the listing for cosmetics imports, however it might face a 25% tariff if President Trump’s plan strikes ahead following a 90-day pause on most of his so-called new reciprocal tariffs. The pause was introduced final week.
A Japanese delegation held a gathering on the White Home Wednesday in an try to keep away from new 24% tariffs by itself imports following the conclusion of that 90-day pause.
“They’re panic-buying,” mentioned Marie Del Rosario, retailer supervisor for Senti Senti. “They know that it is coming. They know that every part goes to vary. So, they purchase multiples of the merchandise that they love.”
Final 12 months, the U.S. imported greater than $7.5 billion in cosmetics, in accordance with numbers from the U.S. Worldwide Commerce Fee. Roughly $1.7 billion of these imports got here from South Korea. In recent times, retailers have seen a increase in Korean skincare gross sales, partially due to social media influencers.
“The shoppers that we’ve right here, they arrive right here with a function,” Rosario mentioned. “…More often than not it is as a result of they’ve seen us on social media.”
Carrie Kuiken informed CBS Information she is searching for herself and her sister, who lives in Seattle.
“She sends me like a complete listing of issues that she needs, after which I ship them out,” Kuiken mentioned.
Rosario says their hottest merchandise is its sunscreen, which retails at $17.99. She says that tariffs would probably increase the worth to over $20.
And that worries the Private Care Merchandise Council, a commerce affiliation that represents over 600 manufacturers, together with L’Oréal, Neutrogena, Estee Lauder and Procter & Gamble.
It mentioned in a press release that it’s particularly “involved about commerce insurance policies that might end in greater costs for private care merchandise,” including that U.S. shoppers use “about six to 12 merchandise every day, together with sunscreen, toothpaste, shampoo, moisturizer and perfume.”
Michelle Ranavat, CEO and founding father of her personal magnificence line Ranavat, says the beauty trade depends on a “fairly advanced ecosystem.”
“The longer this uncertainty goes on, the tougher it’s for small companies to plan,” Ranavat informed CBS Information.
Her merchandise are packaged within the U.S., however the substances come from India.
“I feel the impression is gonna be fairly vital,” she mentioned of the tariffs.
For now, shops like Senti Senti are making ready for the worst.
“We do anticipate the rise of the costs, both finish of April or first week of Could,” Rosario mentioned.
