Most US business executives fail to see any beauty in a trade war. After all the saber-rattling during last week's G-7 summit, The Personal Care Product Council's Executive Vice President of Global Strategies Francine Lamoriello issued the following statement:
“The Personal Care Products Council (PCPC) and its member companies remain strongly opposed to any policy that results in increased tariffs affecting international trade. The Administration’s decision to impose tariffs on steel and aluminum imports negatively impacts our relationships with our strongest global allies. Inevitably, such increases will lead to countermeasures by trading partners, threatening access to markets that contributes to our industry’s global growth and competitiveness.
“Cosmetics and personal care products companies rely heavily on open markets. Vibrant international trade is critical to the strength of our industry and enhances our ability to expand manufacturing and employment, and to create the innovative products that consumers around the world trust and enjoy.
“We will continue to work diligently to explain to the US Administration the impact of US trade policies on our industry, and we will continue to work closely with our international partners to highlight the important contributions that our industry makes to national economies everywhere.”
