By Sabela Ojea
Shares of Estée Lauder, Coty and E.l.f. Beauty on Wednesday bounced back after President Trump announced a 90-day pause on certain tariffs to most countries, excluding China.
Estée Lauder was up around 11% at $55.33 in afternoon trading, with Coty climbing 12% to $5.26. E.l.f., which has the largest supply chain exposure to China when compared to its competitors because it makes about 80% of its products in the Asian giant, was up around 8% to $55.25.
The beauty companies' stocks had fallen significantly over the past week after Trump announced what he called reciprocal tariffs, sparking concerns around price increases and consumers' willingness to take them. Their shares had already lost ground since the beginning of the year.
Trump is, however, raising tariffs for China to 125%, where companies like Estée Lauder and E.l.f. have manufacturing capabilities and from where they outsource packaging and ingredients.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 09, 2025 14:37 ET (18:37 GMT)
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