Section 232 tariffs on medical devices are a blunt instrument for a precision industry
The Trump administration's protectionist policies, including potential tariffs on medical devices, could harm consumers and the industry. While the U.S. leads in medical device production, tariffs may lead to increased prices and reduced supply. Instead of tariffs, the focus should be on deregulation and innovation to support the industry without raising costs for consumers.
- ▪The U.S. produces roughly 70% of the medical technology sold domestically.
- ▪Applying Section 232 tariffs broadly could do more harm than good to the medical device industry.
- ▪Research indicates that 90% of the burden of tariffs falls on U.S. firms and consumers.
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The Trump administration has made reducing dependence on foreign adversaries a cornerstone of its economic agenda. From attempting to reshore semiconductor production to attempting to limit the use of Chinese supply chains, this administration’s protectionist policies are a significant piece of its identity. Tariffs are a core tool of that agenda. Used temporarily, tariffs could possibly be used as a negotiation tactic, but in general, they are a tax on consumers — they are a tax on Americans. The question now before the Commerce Department is whether to use tariffs on medical devices through Section 232. The answer should be no. Recommended Stories ESG isn’t dying.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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