The U.S. medical device industry could come out as a major loser if the Trump administration ends up fighting a trade war with China, according to experts following the situation.
Out of the $50 billion in tariffs against imported Chinese goods that the U.S. Trade Representative is proposing, $5 billion involves medical device and technology products, many actually made by U.S. companies, according to Greg Crist, executive VP of public affairs at trade group AdvaMed.
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.
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
At DeviceTalks Boston, MacMillan will provide exclusive insights into the Massachusetts-based company and its evolving definition of women's healthcare. You don't want to miss it!
Use code WOMENSHEALTH to save an additional 10%.