Trump tariffs place $836 million in duties on the medtech industry

The U.S. medical device industry is facing $836 million in tariffs from the Trump administration, more than $3 billion less than what was originally expected. Customs and Border Protection began collecting the additional duties on July 6. The Trump administration announced in April that it intended to impose tariffs on $50 billion worth of Chinese imports as part of a plan to keep American companies from manufacturing their technology in China and transferring intellectual property to domestic Chinese enterprises. The medical device industry was predicted to be facing tariffs on $2.8 billionworth of medical device and technology products, many of which were made by U.S. companies. That number did not include elements such as circuit boards that could go in medical devices, but aren’t directly listed as medtech. Get the full story on our sister site, Medical Design & Outsourcing. The post Trump tariffs place $836 million in duties on the medtech industry appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News AdvaMed Donald Trump tariffs Source Type: news