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P&G razors receive exemption from US steel tariff

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P&G razors receive exemption from US steel tariff

The U.S. government gave The Procter & Gamble Co. an exemption from its 25% tariff on steel imports used by the consumer goods giant to produce razor blades, Reuters reported Oct. 10, citing a company spokesman.

Steel imported from Japan and Sweden is used to make blades for P&G's Gillette and Venus razor brands, the report said.

P&G spokesman Damon Jones told Reuters that the steel tariff has affected the company financially, but added that figures regarding that impact have not been disclosed.

The Bureau of Industry and Security under the U.S. Department of Commerce informed P&G of the exemption decision on Oct. 9, according to Reuters. That is nearly four months after shaving products rival Edgewell Personal Care Co., the maker of Schick and Wilkinson Sword razors, got an exemption the week of June 18.

Both companies have reportedly said that U.S. steelmakers are not capable of providing the quality of steel needed for their razor blades.

In July, P&G said Canada's retaliatory tariffs on U.S.-made goods would affect its products sold in the country after Canadian authorities reportedly rejected the company's request for exemptions.