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.
Since the North American Free Trade Agreement’s enactment in 1994, intra-bloc cosmetics trade has increased 400%, reaching $5bn in 2015, according to the Personal Care Products Council.
The trilateral open market has led to extensive supply chain consolidation, among other efficiencies, so that cosmetics companies tend to...