Cosmetics firms urged the EU not to involve them in a trade war with the United States
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- Cosmetics firms urged the EU not to involve them in a trade war with the United States
Cosmetics companies have called on the European Union (EU) not to involve them in a trade war with the United States. This was reported on March 23 by the British newspaper Financial Times (FT).
They noted that 16 beauty executives met with EU officials in Brussels this week to warn about the negative consequences if cosmetics were included in the list of retaliatory measures against United States tariffs.
"If there is such a tit—for-tat situation regarding beauty, it will cause much more damage to Europe than to American enterprises," said Nicolas Hieronymus, executive director of L'Oréal.
In turn, the head of the Beiersdorf company (Nivea and Coppertone brands) Vincent Warner stressed that this is not the first time that the heads of cosmetics companies have tried to convey to European officials that the inclusion of their products in the list of countermeasures is a mistake.
Earlier, on March 20, it was reported that EU members did not agree on retaliatory measures to tariffs imposed by US President Donald Trump. However, according to media reports, France wants the European Union to consider for the first time the possibility of using its most powerful countermeasure against the American side.
On February 26, Trump announced the introduction of US duties of 25% not only on cars from the EU, but also on "everything else." The American leader added that the EU was created in order to "deceive" the United States, which they carried out.
On February 1, Trump signed a decree imposing trade tariffs of 25% on goods from Canada, China and Mexico. At the same time, he promised to impose duties on goods from the EU. With this decision, the American leader seeks to reduce the flow of the opioid fentanyl across the border, as well as the flow of migrants.
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