South Korea tops the list for cosmetics imports, but it could face a 25% tariff if President Trump's plan moves forward following a 90-day pause on most of his so-called new reciprocal tariffs.

California

U.S. consumers are increasingly "panic-buying" Korean beauty products amidst concerns over potential tariff increases. The United States, which imported over $7.5 billion in cosmetics last year, lists South Korea as a leading source. However, proposed tariffs by former President Trump could impose a 25% hike on these products. 

Many retailers, like Senti Senti in Brooklyn, report that their e-commerce operations have faced backups, attributed to anticipation of the tariffs. Store manager Marie Del Rosario states that their inventory, primarily composed of serums and creams from South Korea and Japan, has been in high demand. Customers are purchasing multiple items in preparation for possible price changes.

Influencers and social media have played a significant role in popularizing Korean beauty routines. Consumers like Harry Kaiken are going to great lengths, buying a variety of products for themselves and loved ones before prices potentially rise. Concerns are also being voiced by the Personal Care Products Council, a trade association representing over 600 brands, about potential price hikes due to the trade policies. 

Small businesses face challenges in planning amidst the prevailing uncertainty. Michelle Ranavad, CEO of a beauty line, highlights the impact potential tariffs could have, indicating an anticipated rise in prices ranging from late April to early May. Retailers and consumers alike are bracing for the looming changes in the market.



Why U.S. consumers are 'panic-buying' K-beauty products

Our e-commerce has been backed up for two weeks now, and it's because of the tariff. Two weeks? Yeah. Marie Del Rosario is a store manager at Senti Senti in Brooklyn. It's a skin care store selling items you won't typically find at other retailers in the U.S. This is just from yesterday, actually. Almost all of the serums and creams here are imported from South Korea and Japan. Last year, the U.S. imported over $7.5 billion in cosmetics. South Korea tops the list. But that country could face a new 25 percent tariff if President Trump's plan moves forward. I swear by my Korean skin care products. Part of the boom in sales is thanks to influencers. My entire routine is basically all Korean products now. The customers that we have here, they come here with a purpose. And they've seen your store on social media a lot of times. Most of the time, it's because they've seen us on social media. Harry Kaiken is shopping for herself and her sister, who lives in Seattle. So she sends me like a whole list of things that she wants, and then I ship them out. They are panic buying. They know that it's coming. They know that everything is going to change. So they buy multiples of the products that they love. Most popular item is this sunscreen. How much is it? $17.99. Right now? Correct. Could go up. Probably over $20. And that worries the Personal Care Products Council. It's a trade association that represents over 600 brands, including L'Oreal, Neutrogena, Estee Lauder, and Procter & Gamble. It's specifically concerned about trade policies that could result in higher prices for personal care products, adding consumers use anywhere from 6 to 12 products every day, including sunscreen, toothpaste, shampoo, moisturizer, and fragrance. It's a pretty complex ecosystem. Michelle Ranavad is CEO and founder of her own beauty line. The longer this uncertainty goes on, the more difficult it is for small businesses to plan. Her products are packaged in the U.S., but the ingredients come from India. I think the impact is going to be pretty significant. For now, stores like Senti Senti are preparing for the worst. We do anticipate the increase of the prices either end of April or first week of May. Meaning customers will ultimately have to make up for any potential losses. Jerika Duncan, CBS News, New York.

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Kyiv

Ukraine Invasion

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Jerusalem

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Gilimanuk

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Iran Strikes

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