GATT WILL REDUCE MOST DEVELOPED COUNTRY COSMETIC TARIFFS TO ZERO
This article was originally published in The Rose Sheet
Executive Summary
GATT WILL REDUCE MOST DEVELOPED COUNTRY COSMETIC TARIFFS TO ZERO from the current range of 5% to 20% effective Jan. 1, 1995, according to the Cosmetic, Toiletry and Fragrance Association. Also as part of the Uruguay Round of the General Agreement on Tariffs and Trade, developing countries agreed to reduce tariffs on cosmetic products to a range of 20% to 30%, compared to previous levels of 50% to 60%, CTFA said. The trade association emphasized the advantage of the reduction in tariffs to U.S. companies, whose products would be much more competitive with locally produced products in overseas markets.