By Sabela Ojea
Shares of cosmetics companies E.l.f. Beauty, Estée Lauder and Coty fell after the U.S. announced reciprocal tariffs on the European Union, China and other countries where they have manufacturing plants and from where they outsource packaging and ingredients.
E.l.f. traded down 6% to $63.70 in post-market trading Wednesday, with Coty and Estée Lauder shares falling 2.7% and 4.8%, respectively. Their stocks have already lost ground since the beginning of the year.
French beauty giant L'Oréal, whose main market is the U.S., fell 0.2% to $77.20 in after-hours amid fears around reciprocal tariffs from the European Union.
President Trump on Wednesday afternoon announced a sweeping new tariff plan at a Rose Garden ceremony, a stark shift in U.S. trade policy.
The U.S. will impose a 10% tariff on all imports and much higher rates for some nations, Trump said in unveiling a series of moves he declared "Liberation Day" for U.S. trade policy.
The higher rates are for nations the White House considers bad actors on trade. Duties will be 34% on China, 24% on Japan and 20% on the E.U., in lieu of the universal 10% tariff, effective April 9.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 02, 2025 18:35 ET (22:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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