Trump Tariffs Hurt Medical Device Manufacturers
The Trump Administration followed through on its threat to impose tariffs on Chinese made-products including medical devices on July 6, announcing a 25 percent tax on $34 billion worth of imported Chinese products.
Medical device manufacturers voiced their concerns saying the tax will increase consumer prices and limit research and development, especially among medical imaging manufacturers.
According to the Office of the United States Trade Representative (USTR), the decision to impose tariffs was made after a Section 301 investigation found that “China’s acts, policies and practices related to technology transfer, intellectual property and innovation are unreasonable and discriminatory, and burden U.S. commerce.”
On July 10, after China responded with its own tariffs on U.S. imports, the administration doubled down, proposing additional tariffs on another 6,000 Chinese products worth $200 billion.