AdvaMed Urges U.S. to Boost Medtech Manufacturing with Lower Tariffs
The Advanced Medical Technology Association (AdvaMed) has urged the U.S. Administration to consider lowering tariffs and implementing supportive policies to boost domestic medtech manufacturing and job growth. Scott Whitaker, former President and CEO of AdvaMed, suggested this approach to strengthen the U.S. medtech industry's global dominance, enhance access to life-saving technologies, and reduce costs for hospitals and patients.
AdvaMed submitted comments to the U.S. Department of Commerce, highlighting the U.S. medtech industry's success and national security significance. The U.S. leads in medtech innovation and exports, with 70% of medtech products sold domestically being made there. The U.S. also enjoys trade surpluses in medtech with almost all trading partners. The industry supports a robust three million well-paying jobs, with U.S. medtech manufacturing jobs growing at a rate three times faster than overall U.S. manufacturing jobs.
To maintain this momentum, AdvaMed recommends policies that further support U.S. dominance in medtech production, innovation, exports, and job growth. Lowering tariffs, combined with supportive policies, could promote more medtech manufacturing in the U.S., ensuring greater access to life-saving technologies while reducing costs for American hospitals and patients.
AdvaMed's recommendations aim to build on the U.S. medtech industry's success, fostering growth in manufacturing, innovation, exports, and job creation. By considering these suggestions, the Administration can help maintain the U.S. medtech industry's global leadership while improving access to vital medical technologies and reducing costs for American healthcare providers and patients.
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