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Biden’s China Tariffs Mark A Major Shift In US Policy, Analysts Say

Biden’s China Tariffs Mark A Major Shift In US Policy, Analysts Say
A new round of tariffs imposed by the Biden administration on various Chinese goods, including medical devices, points to a broader shift in US strategy for strengthening supply chains and ensuring Americans have reliable access to safe products, according to analysts who spoke to Medtech Insight about the tariffs. While fueled by the pandemic, the momentum pushing this change in trade policy has been growing for some time.

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Biden’s China Tariffs Mark A Major Shift In US Policy, Analysts Say

The Biden administration has imposed new tariffs on various Chinese goods, including medical devices, signaling a significant change in US trade policy. Analysts believe that this shift is aimed at strengthening supply chains and ensuring that Americans have reliable access to safe products. The tariffs, which target $18bn worth of Chinese goods, are part of a broader regime shift in US industrial policy. They seek to balance what the White House sees as unfair trade practices on the part of the Chinese government and industry. The primary goal of the policy shift is to ensure the safety of medical products on the US market, with tariffs on Chinese syringes seeing a significant increase. While the reaction to the tariffs has been mixed, they are part of Biden's "Investing in America" agenda, aimed at creating jobs and fostering innovation in clean energy, semiconductors, and advanced manufacturing. The shift in US policy is expected to continue regardless of who occupies the Oval Office or what party holds the gavel in Congress. Overall, the change in policy is expected to benefit American consumers and patients by ensuring higher quality materials.

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