Spot-on insights about the impact of these tariffs. It's relevant for all safety and protective products. How is China going to respond? What will the impact be on American companies in the interim period before domestic production can fill the gap for imports?
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The U.S. is raising tariffs on medical products imported from China, amid a?broader set of tariff hikes?announced by President Joe Biden on Tuesday.? The tariff rate on syringes and needles will increase from zero to 50%, and the rate for certain respirators and face masks will increase to 25% this year, from the current range of zero to?7.5%. Tariffs on rubber gloves will increase from 7.5% to 25% in 2026. The rate hikes focus on areas where the Biden administration has sought to boost domestic production, such as medical supplies that were essential to the COVID-19 pandemic response. My bigger concern is how does China respond regarding these tariffs and subsequent market access for higher value medical device imports in Structural Heart, Electrophysiology, Neurovascular, Coronary and Peripheral applications?