BUZZ-US beauty firms fall after Trump's heavy tariffs on Asian countries

Reuters04-03

** U.S. beauty companies' shares fall premarket after President Donald Trump slaps new tariffs on manufacturing hubs in regions including Europe and Asia

** Beauty firms impacted due to their reliance and exposure to countries such as China and Thailand

** Trump has put 20% tariffs on European Union, 37% tariffs on Thailand and 32% on Taiwan; he hiked tariffs on China by an extra 34 percentage points, following the earlier 20% tariffs

** Shares of Estée Lauder EL.N and Ulta Beauty ULTA.O down about 5% each

** Elf Beauty ELF.N shares dropped about 8%, while Coty COTY dipped 2.3%

** With higher or new tariffs to be implemented on imports, companies will likely look to take a multi-pronged approach as seen last time tariffs went into effect, but price increases will likely be part of that approach - Susan Anderson, analyst with Canaccord Genuity

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))

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