The Advanced Medical Technology Association (AdvaMed) has released a statement urging medical technology exemption from tariffs on products from Canada, Mexico, and China.
"We have shared with the Administration our concerns about the potential impact tariffs could have on the medical technology supply chain that American patients depend on for their care," said AdvaMed president and CEO Scott Whitaker. "In light of that risk, an exemption was provided for most medical devices during President Trump's first term with respect to the tariffs on China, and we are advocating for a similar approach this time."
The medical technology industry is heavily regulated, Whitaker noted, which could translate to a tariff impact on American companies similar to an excise tax, "which would lead to less research and development/innovation, layoffs, higher prices for … payors and patients, or all of the above … The increased costs posed by tariffs, and their functioning essentially as an excise tax in practice, could resurrect the climate of concern the medical device excise tax created for nearly a decade."
In addition to blocking innovation in the U.S. medical technology industry, tariffs could also have the "unintended consequence of boosting the competitiveness of [medical technology] industries of other nations," Whitaker said.
