Welcome back to our customary appointment with the news from the blog Dispotech, your disposable excellence. Today we have prepared for you an article found on Forbes, concerning USA, China and the war on the market of medical devices.
The industry of medical technology is preparing for the big hit that the Trump administration is developing against China, with nearly $5 billion in medical devices now involved in Chinese "retaliatory" duties.
There is increasing fear in the medical technology industry - manufacturing medical equipment for imaging and diagnostic - after China's response to the US "attacks”. According to the Advanced Medical Technology Association (AdvaMed), this could be a big problem for the USA. "If the trade war between the two powers continues, the impact on the market will be even stronger," says AdvaMed CEO Scott Whitaker. Today, AdvaMed represents some of the world's largest and most important businesses, such as Johnson & Johnson, Abbott Laboratories, Medtronic, Stryker and Baxter International. "Most of the impact of the tariffs introduced by Trump has been placed on some components of medical devices manufactured in China," Whitaker continues.
It could have been worse, though. At this point, sector companies and AdvaMed were able to put pressure on government representatives to limit the number of products that would be subject to increased tariffs once they entered the country. "We are working hard and closely with some government representatives, to limit the perimeter of additional taxes and try to remove medical equipment from the 'black' list," Whitaker says.
AdvaMed is working on a new, detailed report of some medical devices (and the companies that produce them) affected by this wave of commercial retaliation.
Despite the potential negative impact on the medtech industry, some of its member companies welcome the Trump government's effort to appeal to China for these unfair business tactics that have had a negative impact on companies in this sector.
How's this going to end? Only time will tell: we at Dispotech will always be here to update you through our blog! Continue to read us and, for any info, do not hesitate to contact us.