March 14, 2025- Medical device companies are preparing for the impact of new tariffs on Mexico and Canada and another increase on China tariffs. The changes, which went into effect in early March, could increase the cost of medical products and reduce sales outside of the U.S. if countries retaliate, according to MedTech Dive.
The new tariffs are in addition to previous levies last month on aluminum and steel. Healthcare industry groups, including Advamed and the American Hospital Association, have called for the Trump administration to exempt medical devices and supplies. However, there have not yet been specific plans, according to the outlet.