April 28, 2025- Much has changed since Premier’s first special report on tariffs in early February, according to Premier. The Trump Administration’s tariff measures have continued to evolve, reflecting broader shifts in trade strategy and global economic dynamics. More recently, President Trump announced a comprehensive tariff policy with a baseline 10 percent tariff on all imported goods, effective April 5, 2025.
The Administration’s tariff measures have now entered a critical transition period, according to Premier. On April 9, a 90-day pause on reciprocal tariffs was announced, extending through early July. During this window, the universal 10 percent tariff rate will apply to most countries and products originating from them – with the notable exception of China, which faces up to a 245 percent tariff on U.S. imports. China has retaliated against President Trump’s country-specific tariffs by raising its levies on U.S. goods to 125 percent from 84 percent.
The Trump Administration’s pause is intended to allow U.S. trading partners time to engage in reciprocal trade discussions, but for the healthcare industry, it prolongs a period of volatility and cost uncertainty. The new tariff measures, paired with the rollback of de minimis exemptions, may introduce significant complexity and cost pressures, including for personal protective equipment, medical devices, pharmaceuticals, foodservice and capital projects.