US medtech firms, including GE Healthcare (NYSE:GE) and the thriving Minnesota-based medtech sector, are concerned that tariffs on Chinese products proposed by President Trump could significantly affect their business, according to two reports released this week.
GE Healthcare executives are worried that the tariffs could hurt the competitiveness of its products, including its magnetic-resonance imaging units which are produced in Waukesha, according to a Boston Business Journal report.
GE is reportedly requesting that the Trump administration remove certain parts and components made in China from a list of products that could be on the receiving end of new US tariffs.
“GE’s requests for adjustments to the proposed tariff list have been limited … to those products that should be removed because tariffs would impose significant and disproportionate costs on U.S. business, workers and consumers without advancing — or potentially even undermining — the President’s goals,” GE wrote in comments to the US Trade Representative, the BBJ reported.
Chinese-produced parts are essential for a number of GE’s devices, including ultrasound machines, patient monitors, MRI machines, CT machines and X-ray machines, some of which are produced by GE owned facilities in the region while others are produced by local Chinese companies, according to the report.
Source: US medtech companies lobby against proposed Chinese tariffs
A Speciality Recruiting Firm Exclusively Servicing The Medical Device Industry
Legacy MedSearch has more than 30 years of combined experience recruiting in the medical device industry. We pride ourselves on our professionalism and ability to communicate quickly and honestly with all parties in the hiring process. Our clients include both blue-chip companies and innovative startups within the MedTech space. Over the past 10 years, we have built one of the strongest networks of device professionals ranging from sales, marketing, research & development, quality & regulatory, project management, field service, and clinical affairs.
We offer a variety of different solutions for hiring managers depending on the scope and scale of each individual search. We craft a personalized solution for each client and position with a focus on attracting the best possible talent in the shortest possible time frame.
Are you hiring? Contact us to discuss partnering with Legacy MedSearch on your position.