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China tariffs now hit $4.7 billion worth of U.S. medical devices

por John R. Fischer, Senior Reporter | September 26, 2018
Business Affairs
China has retaliated with tariffs on
$60 billion worth of U.S. goods
Nearly $5 billion worth of U.S. medical devices has fallen under the wrath of China’s retaliatory tariffs as of this week, through the latest actions of the ongoing trade war between it and the U.S.

President Donald J. Trump levied 10 percent tariffs Monday on $200 billion of Chinese imports, spurring the East Asian nation to follow through on its earlier intention to impose 5 to 10 percent tariffs on $60 billion worth of U.S. goods, bringing the total amount of U.S. medical technology exports affected since the beginning of the trade war to $4.7 billion, according to Forbes.

This latest round of Chinese imposed tariffs added $3.5 billion in impacted medical devices, affecting “almost all remaining U.S. MedTech exports to China in 2017,” said AdvaMed in a presentation at the annual MedTech Conference in Philadelphia, reported Forbes.

The addition of non-tariff measures are also taking their toll in the form of delayed regulatory approval and tendering discrimination.

At the same time, China is also experiencing the burden of U.S. imposed tariffs, with the latest round from the Trump administration increasing the total amount on Chinese imports to more than $250 billion. The build up of these fines on each side continues to escalate fears throughout the medical technology community over their ability to design, deliver and provide solutions for patient care.

“If the trade war continues and escalating continues to grow, there will be more impact,” AdvaMed CEO Scott Whitaker said Monday before attendees at the MedTech Conference.

Animosity between the U.S. and China over trade is not expected to dissipate any time soon in their ongoing standoff, which began earlier this year with a proposal by Trump to impose a 25 percent tariff on more than 1,300 Chinese products, including medical devices such as MR magnets and CT scanners. He eventually put his plan into action in June, imposing the tariff on $50 billion of imported goods from China.

In response, China issued its own tariffs on U.S. products, with the first wave impacting $34 billion in agricultural, automobile and seafood products. It followed up with another $16 billion in late August, which included $1.125 billion on U.S.-made medical devices, according to CNBC.

Michael Masciulli

Derogatory reference to the President of the United States

September 28, 2018 09:28

To the writer:
Due to your inability to be a real journalist and keep your personal feelings out of a story, you have yet another person that will forever negate anything you write with the term “FAKE NEWS”

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Gus Iversen

re: Derogatory reference to the President of the United States

September 28, 2018 05:26

Thank you, Michael. The author and I were both very upset to discover the part of the story your comment was in reference to. We have revised it and have figured out what happened.

I have already emailed you, but wish to follow up more publicly in case there are others who were offended:

The culprit, in this case, was a browser extension one of our remote copy editors had on their computer, which automatically changed certain words. At the copy editor's request, I want to share his comment:

"There was no intention involved and it was not meant to editorialize about the president or his policies. All I can do is offer my sincere apology and the assurance that it will not happen again. HCB News is completely apolitical and it is the intention of the editorial group to keep it that way. This was my carelessness alone, and I take responsibility for it, and for any trouble it has caused."

I want to stress that the author of this article has exceptional journalistic integrity, and I think the content of the story itself is a testament to that.

In these politically polarizing times, the media is under intense scrutiny to report in ways that are fair and balanced. Letting childish jokes enter into articles is inexcusable and I sincerely apologize to anyone we have offended. The browser extension has been deleted and this will not happen again.

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Carl Di Joseph

re: re: Derogatory reference to the President of the United States

October 08, 2018 08:56

An example of a browser extension or a 1984 Orwellian threat coming alive. We don't want computer oversight changing ANY message the writer had intended.

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