Trump also threatens the European cosmetics industry. The President of the United States once again shows his animosity towards the European Union and sows uncertainty in the beauty sector of Europe.
Donald Trump has threatened the European Union with the imposition of tariffs that could reach 25%. This could become a problem for the European Union, especially for some countries like France. In 2023, France was the EU country that exported the most cosmetics, particularly in the category of fragrances and perfumes. That same year, sales of French beauty and cosmetic products to the United States reached 2.8 billion euros, making it the most important exporting country, only behind China. For France, the beauty industry represents more than 40% of total exports.
Despite a decline in exports in 2023 due to inflation, in 2022, the United States became the main importer of French cosmetics, increasing by 15.4%.
In the latest report by ICEX, dated 2022, Spain ranks as one of the largest producers and exporters of cosmetics, and in recent years, Spain has experienced growth in cosmetic exports to the United States.
The sectors most threatened and likely to be most adversely affected by Donald Trump's return to power and his more protectionist stance will be automotive, chemical industry, which includes cosmetics, technology, and food.