FLASH NEWS
Tax crisis/ Items Americans will pay more for
2025-04-05 21:25:53 / BOTA
When US President Donald Trump announced higher-than-expected tariffs on imports from around the world, attention turned to rising prices for champagne, parmesan and Ferraris.
However, the effects on the consumer market are proving to be much broader, affecting areas such as beauty, but also health. As of Saturday, a universal tariff of 10% on all products imported into the United States of America came into effect.
So, according to Bloomberg, manufacturers and suppliers are considering how much of the burden they will pass on to consumers. When the Trump administration first imposed lower tariffs on China, many companies said they were unable to pass the additional costs on to their final prices. Now, the range of products affected is broader.
The iconic Ray-Ban aviators, favored by Joe Biden but made famous by Tom Cruise in the movie "Top Gun," are primarily made in a small village in Italy. They are owned by EssilorLuxottica, an optical giant worth over 100 billion euros and exported worldwide. With a new 20% tariff taking effect on April 9 on European imports, the 'Maverick' accessory could become a luxury.
Nespresso: Coffee capsule becomes... bitter
Nestle's Nespresso sells about 14 billion capsules a year, but production is limited exclusively to Switzerland. With tariffs on Swiss imports as high as 31%, espresso lovers in the U.S. will likely have to dig deeper into their pockets.
Sex toys and beauty products like eyelashes and wigs are a luxury item. China controls nearly 80% of the global wig market and 70% of the false eyelashes and sex toys market. The US is a major buyer, but new tariffs of 34% on China and 26% on India could cause significant price increases for the items in question. It is worth noting that the US sex toy market reached $10.6 billion in 2024, according to Bloomberg.
Price increase also for Botox treatments
Although the pharmaceutical sector has so far been unaffected by the tariffs, there is concern about a potential shift. AbbVie makes Botox in Ireland and U.S. sales are expected to reach nearly $1.7 billion by 2024. If tariffs are imposed, the cost would be borne solely by customers, as cosmetic treatments are not covered by insurance companies.
Finland's Oura smart rings that track sleep, daily activity and heart rate could be affected by tariffs. The latest model typically starts at $349. Wellness products, as all indications suggest, will not be left untouched.
High-tech hospital beds
Czech Linet Group supplies high-tech beds to American hospitals. But after the tariffs were announced, the company plans to raise prices and switch to higher-priced products with higher margins.
As its sales in the US reach 370 million euros, the pressure on the American healthcare system is expected to increase.
Germany's Birkenstock already says it has the means to adjust prices globally to offset the burden of tariffs. With America as its biggest market and with revenues of 950 million euros in 2024, the company leaves open the possibility of sharing the gains with other markets.
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