Tag: Tariffs

A Truce in the Trade War Will Save American Lives

Tina Marie (Ms. Cat)

A Truce in the Trade War Will Save American Lives

Why isn’t America just buying massive amounts of the equipment it needs from China? Because tariffs are standing in the way.

Since 2018, the Donald J. Trump administration has imposed more than $400 billion of tariffs on imports from China. Some $360 billion of those duties remain in place today. Critical medical products, including face masks, gloves, protective goggles, and thermometers have been subject to import tariffs. The tariff rate was initially set at 15 percent, but was lowered to 7.5 percent on February 15 as part of the Phase 1 trade deal.

[2018] Trump tariffs would take a $5B bite out of the medical device industry

Tina Marie (Ms. Cat)

Crist said that industry officials are “surprised and disappointed” by the situation, especially because the USTR report about potentially unfair Chinese trade practices didn’t even mention medical technology.

According to Crist, that $5 billion number could be higher if you take into account component parts like circuit boards that are not necessarily listed under medical devices on the Harmonized Trade Schedule.
— Read on www.medicaldesignandoutsourcing.com/trump-tariffs-take-5b-bite-medical-device-industry/

[2019] The trade war is hitting medical supplies ‘and will be passed on to the consumer’

Tina Marie (Ms. Cat)

“Think of products like gauze that are made in Band-Aids,” Einhorn said. “Think of other products like medical gloves.”

He continued: “These products are used on an everyday basis not only on the professional side such as physician offices, surgery centers, and hospitals, but also on the consumer side — products you’ll buy in a pharmacy. And those products will be somewhat affected somewhere between 10% and 25%.”
— Read on finance.yahoo.com/news/trade-war-consumers-medical-supplies-144533487.html

These U.S. states are hit hardest by Trump’s tariffs

Tina Marie (Ms. Cat)

Imports to Tennessee accounted for 3.4% of total U.S. imports in 2018, according to U.S. Census Bureau data. The imports included pharmaceutical products, cellular phones, passenger motor vehicles, and portable automatic data processing machines, accounted for 7.3% of the state’s GDP. Five of the top 10 companies in the state are all in the health care industry.

California’s top imports in 2018 were passenger vehicles, crude oil from petroleum and bituminous minerals, portable automatic data processing machines, phones for cellular networks, and automated data processing machines. This was unsurprising, as the state is the home of Silicon Valley where technological items are used on a daily basis. Overall, imports make up 5.4% of the state’s GDP.

Illinois’s major 2018 imports made up for 4.7% of the state’s GDP and included crude oil from petroleum and bituminous minerals, phones for cellular networks, parts of airplanes and helicopters, portable digital automated data processing machines, pharmaceutical products, and beer made from malt. Some of the biggest companies in Illinois include Walgreens pharmacy (WBA), economic bellwether Caterpillar (CAT), and United Airlines (UAL).

— Read on finance.yahoo.com/news/trump-tarriffs-states-140945762.html

Wisconsin governor helps dairy farmers hurt by Trump

Tina Marie (Ms. Cat)

In 2019, Wisconsin lost a record number of dairies, as 818 shut their doors for the last time. Dairies first saw trouble in 2018 when Trump initiated a months-long trade war with China. Due to retaliatory tariffs, U.S. dairy exports to China plunged by more than 50% in 2019, according to CNBC.
— Read on americanindependent.com/wisconsin-donald-trump-trade-war-tony-evers-executive-orders-dairy-farmers/