Healthcare industry groups and analysts are reeling after President Donald Trump unveiled a sweeping tariff policy on Wednesday that could impact global supply chains for everything from needles and catheters to diagnostic tests and glucose sensors.
The policy adjustments include a universal baseline tariff of 10% effective April 5, and higher individual tariffs on some U.S. trading partners effective April 9. More levies, including pharmaceutical tariffs, could follow, the president said Wednesday.
The import taxes are set to impact a broad array of materials necessary for healthcare delivery, said Kevin Holloran, senior director and sector leader of the not-for-profit healthcare group at Fitch Ratings. Prices could rise for medical instruments, including syringes and diagnostic tools, and equipment, such as X-ray machines and personal protective equipment.
The inclusion of medical devices in the Trump tariffs stands “in stark contrast to the historical pattern of strategic exemptions of lifesaving and life-sustaining devices,” Morningstar analyst Debbie Wang wrote in a note published Thursday.