March 13, 2025- The Trump administration will effectively impose 25% taxes on all steel and aluminum imports, as reported March 12, according to AP News. These metal tariffs have been imposed on Canada, the No. 1 supplier of foreign steel and accounts for more than half of aluminum exports to the United States, as well as Mexico, Japan and South Korea, also major steel exporters to the U.S.
Medical device companies rely on overseas sourcing, and they may be producing devices in the U.S. but sourcing raw materials and assemblies from other countries, according to MedTech Dive. According to KWQC6 News, economists predict companies will pass on part or all of the added costs to the consumers, meaning that prices could rise for machinery, infrastructure, medical devices, power lines, and more.