Tariffs Impact the Popularity of Korean Cosmetics in the USA

• South Korea hopes to eliminate a 25% tariff on cosmetics
• Korean cosmetics have become the largest import in the USA
• Consumers have suspended purchases due to uncertainty over tariffs

New York — 24-year-old Amrita Bhasin expressed the possibility of introducing new tariffs on products from South Korea, which she supplies for the popular Korean brands U-Need and MediHeal. "I made a large purchase, buying 50 pieces, which should last me for a couple of months," she noted.

South Korea hopes to finalize a trade agreement by September 1, when a 25% tariff on its exports is planned to be implemented. According to Euromonitor data, South Korea was the largest supplier of cosmetics to the USA last year, surpassing France with brands like L'Oreal and Chanel.

In 2024, the USA imported cosmetics from South Korea worth $1.7 billion, which is 54% more than in the previous year. Experts believe that Korean cosmetics resonate with Americans' diversity and novelty in products.

Despite the growing demand, the introduction of a 25% tariff could significantly impact the quantity of goods that suppliers are willing to provide in the USA. Senti Senti store manager, Vini Chong, noted that they observed a "panic buying" trend during the announcement of tariffs, but after the pause, prices did not rise, and demand decreased.

Some suppliers, such as the owner of the online store Ohlolly, also suspended new orders due to uncertainty over tariffs. They only have a few months' supply of products and are hoping for a reduction in tariffs.

Consumers, like Jen Che, a content creator from Los Angeles, also suspended orders due to uncertainty regarding tariff collections. She stated that she does not know whether it will be necessary to pay tariffs on received goods.

Thus, the introduction of new tariffs on Korean cosmetics may impact the accessibility and prices of products in the USA, causing a panic among consumers.

Tags: USA/Economy