S. Korea K-beauty industry gets struck with US tariffs
(MENAFN) South Korea’s globally popular K-beauty industry is starting to feel the effects of newly imposed tariffs by the US under President Donald Trump. While K-beauty products—ranging from skincare serums to innovative cosmetics—have surged in popularity across the US, a fresh 15% import tax on South Korean goods is threatening that growth.
K-beauty is valued for its effective formulations, gentle ingredients, and affordability. In 2024 alone, American consumers spent an estimated $1.7 billion on South Korean beauty products—a more than 50% increase from the previous year, highlighting its rapid rise.
Trump’s new tariffs fall short of the 25% rate he previously floated, but the 15% tax still poses significant challenges for importers and consumers alike. Industry insiders warn that smaller brands may struggle to absorb the costs, while buyers could see rising prices or fewer options on store shelves.
Cultural trends, including the global success of K-pop and K-dramas, have helped fuel the appeal of K-beauty, making products like heartleaf extract and snail mucin part of everyday skincare routines. For fans like Pearl Mak, a 27-year-old graphic designer in New York, the shift is already a concern. “Ninety-five percent of my skincare is K-beauty,” she told a news agecy. “If prices go up, I’ll have to rethink what I can afford.”
While South Korea’s automotive and tech exports dominate headlines, the beauty sector has quietly become a cultural and economic powerhouse—one now caught in the crossfire of a broader trade clash.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
