March 12, 2025- Significant tariffs have been imposed on top U.S. trading partners-including a 25% import tariff on goods from Canada and Mexico, according to the according to The Wall Street Journal, and an increase to 20% on Chinese goods.
Forbes states that these tariffs may increase healthcare costs, which will then be passed on to patients in one of two ways — either increased cost or decreased care, and higher healthcare costs could disproportionately hit low-income and chronically ill patients reliant on affordable imports.
The tariffs are expected to affect a significant portion of U.S. medical devices, as about 69% of U.S.-marketed medical devices are manufactured entirely outside of the U.S., according to Medical Device Network and Becker’s.
In 2023, medical equipment was among the 10 top U.S. imports from Mexico, accounting for $13.6 billion in goods, according to AP News.