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Trump's Chinese tariffs threaten to cost medical device makers $138 million a year, MITA says

July 09, 2018 / Jessica Davis

President Donald Trump’s tariffs on Chinese imports will cost American medical device makers more than $138 million this year, the Medical Imaging and Technology Alliance estimates. As a result, the group is calling for a “timely and robust exemption process.” MRIs, pacemakers, sonograms and other medical devices were all included in the list of items subject to the 25 percent tariffs that went into effect on June 6. The tariffs could cause some vendors to downsize and cut research and development budgets, according to a recent MITA survey. And the impacted companies would also reduce their U.S.-based employment over the next few years to counteract the recently enacted China Section 301 tariffs. CT scanners and other X-ray device components will be hit the hardest, the survey found. While the Trump administration said the tariffs are designed to combat China’s unfair trade practices, Chinese officials said Trump has started “the biggest trade war in econo...