Another brand has announced a price increase! This time it’s Elf Cosmetics, the well-known low-cost beauty products store… though their products won’t be as affordable as they used to be. If you’re a frequent buyer of their items, we’ll tell you when this price hike will take effect and how much their products could cost after the adjustment.
Why is Elf Cosmetics raising its prices?
According to the company, the price adjustment is partly due to inflation, but tariffs have also had a significant impact. It stated that various brands and retailers have reported price increases as a result of the tariff policies implemented during Donald Trump’s administration. While temporary tariff reductions were recently announced, the overall tariff levels remain considerably high.
Currently, 80% of the company’s products come from China — the country hit hardest by Trump’s tariffs — which will undoubtedly affect the cost of the items the brand offers.
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How much will Elf Cosmetics products cost now?
According to the company, prices will increase by $1. However, 75% of its products will still be priced at $10 or less.
When will Elf Cosmetics raise its prices?
The price increase will take effect on August 1, 2025.
What are tariffs?
Tariffs are taxes imposed on imported goods. These tariffs benefit locally made products by giving them a competitive price advantage over similar imported goods. They also serve as a source of revenue for governments.
Why did Trump impose tariffs?
President Donald Trump has stated that tariffs are a key part of his economic strategy, aiming to promote manufacturing in the United States, protect jobs, increase tax revenue, and stimulate economic growth.
Trump seeks to revitalize and rebuild the U.S. manufacturing industry, which has lost many jobs over the past 40 years, largely due to the offshoring of labor to lower-wage countries like Mexico or China. Additionally, the president believes that the U.S. faces a significant trade deficit and that other countries are taking advantage by selling their products to American consumers.
Why are the United States and China in a tariff war?
It all began on February 1, when U.S. President Donald Trump announced a 10% tariff on all imports from China, as well as the elimination of the de minimis exemption, which had allowed the Asian country to make certain tax-free imports.
Later, on April 2, Trump ordered a 10% tariff on imports from all countries. Two days after that, China responded by imposing a reciprocal 34% tariff on all U.S. imports.
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That was just the beginning. On April 8, Donald Trump increased the tariff on Chinese goods to 84% and reiterated his plan to eliminate the de minimis exemption on May 2. China did not remain idle—it then announced an 84% tariff on U.S. imports. The Trump administration responded by raising its tariffs on Chinese goods to 125%, and China matched the figure with its own 125% tariff on U.S. products.
Which stores have raised their prices?
These are the retailers that have confirmed price increases so far:
- Walmart
- Shein
- Nike
- Adidas:
- Target
- Best Buy
- Mattel
