Trump’s Mexico tariffs will hit medical device makers hard
U.S. President Donald Trump meets with British Prime Minister Theresa May at 10 Downing Street, during the second day of his state visit on June 4, 2019 in London, England. The strong medical supply chain between the U.S. and Mexico could be hit hard by President Trump's proposed 5% tariff on imports of all goods from south of the border, several new reports indicate.
Trump has said he'll slap Mexico with tariffs beginning next week and that they will escalate over time by 5% each month until hitting 25% in October unless Mexico steps the flow of Central American migrants into the U.S. More than a dozen large U.S. medical device makers with manufacturing facilities in Mexico could be hurt, including Align Technology, Hill-Rom Holdings, Intuitive Surgical, Medtronic and Stryker, a Jefferies Research report and other. Among the major medical supplies and devices imported from Mexico are"syringes, needles & catheters, therapeutic appliances, electrodiagnostic apparatus, orthopaedics & prosthetics and portable aids," the Fitch report says.
“While at this juncture the estimated impact of current tariffs seems to be somewhat limited, exacerbated trade tensions will reduce the chances of reaching agreements as disputes could get out of control,” the Fitch solutions report said. “The uncertain ratification process of the USMCA will continue to have a moderate impact on investment in and the performance of the Mexican export-focused medical device industry.
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