Cosmetics international trade
This article was originally published in The Rose Sheet
Executive Summary
Korean Cosmetic Products Act pointed to as trade concern by U.S. Trade Representative in 2001 Annual Report released March 19. "U.S. government has repeatedly raised its concerns with Korea," and both the U.S. and EU "are considering next steps to resolve this issue," USTR says. New regs are "extremely vague," USTR asserts, noting only 18 U.S. products have been approved for sale out of more than 600 applications. Cosmetic Products Act, which went into effect July 2000, applies pharmaceutical-type standards to some cosmetic products such as skin whiteners and sunscreens. Cosmetic, Toiletry and Fragrance Association testified before the International Trade Committee against the regulations last year as part of a general fact-finding investigation (1"The Rose Sheet" June 11, 2001, p. 6)...
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