On Tuesday Procter&Gamble was informed that it was granted exemption from tariffs on import of steel from Japan and Sweden, which was equal to 25%, Reuters reports. This is good news for P&G operating in highly competitive environment.

The company uses steel to produce razors Gillette and Venus, which are the important components of grooming business representing 10% of global sales in 2018 fiscal year.

Around four months ago, closest rival of P&G, Edgewell Personal Care Co, which owns such brands as Wilkinson Sword and Schick was also exempted from tariffs.

Duties on import of steel from most countries, including EU, were imposed in March and June this year. P&G and Edgewell announced that US manufacturers cannot produce high quality steel needed to make razor blades. As a result, costs of materials grew significantly.

P&G, which is the world’s No. 1 company for personal care products, decided not to pass these costs to consumer. This of course hurt financial positions of the company.