French cosmetics sector eyes Xi visit for reprieve on Chinese import rules

4/5/2024 19:04

        France's world-leading cosmetics sector is counting on talks between Xi Jinping and Emmanuel Macron next week to help minimize the impact on French companies of tough new Chinese import rules requiring the sharing of formulas and manufacturing know-how.
        
        President Xi's first visit to Europe in five years comes amid a backdrop of tense trade relations, with the European Union threatening China's electric vehicle and green energy industries with tariffs.
        
        But progress towards an agreement between France and China on the regulation of cosmetics, including lipstick and fragrances, could be a bright spot in discussions in Paris next week.
        
        President Macron's office said ahead of the meeting that cosmetics would be a topic of "great attention," and that they sought to "find a solution that also protects the interests of our companies."
        
        France is the world's leading cosmetics exporter, shipping nearly 2 billion euros ($2.15 billion) worth of makeup and skin care products to China last year, second in importance only to aerospace products.