Advisory Board May 17, 2024
The United States has relied heavily on China for medical research and manufacturing, especially during the COVID-19 pandemic. To reduce this reliance, the U.S. government has introduced new tariffs on imported medical products, as well as legislation that would limit contracts with certain healthcare and biotech companies.
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White House increases tariffs on Chinese medical products
The White House on Tuesday announced that it will raise taxes on several imported Chinese goods, including medical products. The medical products that will see increased tariffs include syringes, medical masks, respirators, and gloves.
Syringes and needles, which are currently not taxed, will be taxed at 50% beginning this year. Similarly, the tariff on respirators...
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