Procter & Gamble granted tariff exemption for razors

Procter & Gamble granted tariff exemption for razors

Procter & Gamble has received an exemption from the Trump administration's steel tariffs against Japan and Sweden, which provide the company with steel for its Gillette and Venus brand razor blades, Reuters reported Tuesday.

A company spokesman told Reuters that the company experienced some effects from the tariffs, but has not disclosed any related numbers.

“It wasn’t materially market-moving, but given the competitiveness of this industry we think it is important and significant,” Procter & Gamble spokesman Damon Jones said of the exemption.

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Procter & Gamble did not immediately respond to a request for comment from The Hill.

Gillette and Venus accounted for about 10 percent of the company's global sales in fiscal 2018, Reuters reported.

The news outlet noted that Edgewell Personal Care Co., which produces Schick razors, received a tariff exemption in June.

The Trump administration imposed 25 percent tariffs on steel imports from most countries earlier this year, along with 10 percent tariffs on aluminum imports.

The U.S. has maintained those tariffs as it seeks to negotiate improved trade deals with Japan, the European Union and other countries, despite skepticism from U.S. and foreign lawmakers.

President TrumpDonald John TrumpFeinstein, Iranian foreign minister had dinner amid tensions: report The Hill's Morning Report - Trump says no legislation until Dems end probes Harris readies a Phase 2 as she seeks to rejuvenate campaign MORE has additionally ordered more than $250 billion worth of tariffs on Chinese products, prompting retaliation from Beijing and raising concerns of a trade war between the world's two largest economies.