NAFTA’s Been Good To Cosmetics And Could Get Better, But Stars Are Not Aligning In 2018
This article was originally published in The Rose Sheet
It appears that hopes may be dashed for a fast-tracked NAFTA update, putting the trade agreement’s future in question. The cosmetics industry has much to gain from the reboot, which stands to include an annex promoting regulatory best practices and other principles for "cost savings and greater competitiveness for our industry," according to PCPC leadership.
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As European industry’s concerns grow about “politicization” of regulatory programs, the United States-Mexico-Canada Agreement’s cosmetics annex directs regulatory authorities pursuing new rules to give due consideration to scientific and technical guidance documents developed through international collaboration.
A modernized NAFTA that promotes greater uniformity in cosmetics regulations across the US, Canada and Mexico – even stronger commitments than those sought in the TPP accord that the US exited earlier this year – could be in industry's future if the Personal Care Products Council's recommendations are adopted by trade officials and the clock doesn't run out on negotiations.