Tariffs threaten Asian beauty product boom in US

NEW YORK (AP) — Asian skin care has been a booming global business for a more than a decade, with consumers in Europe, North and South America, and increasingly the Middle East, snapping up creams, serums and balms from South Korea, Japan and China. In the United States, Korean cosmetics, or K-beauty for short, have dominated the trend.

But South Korea is facing a looming 25% tariff that could put a damper on that growth. Retailers and shoppers alike are hoping South Korea is one of the countries that secures a better a trade deal before the Aug. 1 date arrives.