[ad_1]
The company said that since it could not find the right kind of steel for its razor blades in the United States, Gillette had imported it from a Swedish supplier for more than 20 years. Together, they have developed a "highly specialized steel" that is "the key to our success and the high quality products we manufacture," said P & G in its waiver application.
He warned that a failure in the application of tariffs could adversely affect Gillette's manufacturing operations in the United States and drive up consumer prices.
Edgewell did not respond to a request for comment late Tuesday outside normal office hours.
P & G's grooming business, which includes razors, blades and shaving products from Gillette, Braun and Venus, accounted for 10% of the company's $ 66.8 billion sales last year. The company's market share for men's razors and blades has fallen more than 13 points from 2012 to 2017, according to Euromonitor data.
The Trump administration added to its headaches in March by announcing tariff plans of 25% on steel imports and 10% on aluminum imports. The measures took effect on shipments coming from the European Union in June.
By mid-September, the Trump administration had approved more than 2,500 company applications to exclude products from steel tariffs, according to the Commerce Department.
The new guidelines gave companies more time to react when others tried to block their waiver requests.
Nathaniel Meyersohn and Julia Horowitz contributed to this report.
[ad_2]Source link
