If beauty is in the eyes of the beholder, as the Greek philosopher Plato inferred, then it’s possible for Estee Lauder chief Fabrizio Freda to believe the cosmetics trade is good for everyone and should be immune to tariffs and for President Trump, simultaneously, to suggest the opposite.

Make-up powders and preparations are among the $200 billion in additional Chinese products on which the White House has proposed assessing a 25 percent duty as Trump wages a global trade war, using controversial levies he says are “working big time,” to bring American exports in line with imports. The latest round is under scrutiny in hearings by the Office of the U.S. Trade Representative this week and next amid growing concern from lawmakers and corporate executives, who have warned tariffs are likely to curb profits and, ultimately, economic growth.