China has adjusted the tariff lines and rates for 37 medical devices, including surgical robots, in its newly released Import and export tax rules of the PRC (2023).
Tariffs applied to goods imported for China were imposed by the Trump administration as part of a larger effort to reset the U.S. trade deficit, but there were several exclusions for medical devices in the interest of maintaining access.
India’s health care industry stakeholders have been left scratching their head as authorities, who have championed self-reliance and increased supplies, provided mixed signals in recent notices.
India’s health care industry stakeholders have been left scratching their head as authorities, who have championed self-reliance and increased supplies, provided mixed signals in recent notices.
PARIS – France’s Comité Economique des Produits de Santé (CEPS), which reports to the Ministry of Health, has released its latest financial figures for medical device reimbursement. Health insurance expenditures amounted to $11.6 billion during the last full financial year reported by CEPS, representing annual growth of 4.66%. Over the last two years, more than half of expenditures have focused on four therapy areas: orthopedics, pulmonology/ENT, cardiac and vascular systems, and diabetes.
HONG KONG – Over the weekend, India’s Union Finance Minister Nirmala Sitharaman has imposed a health cess (also known as tax on tax) of 5% on the imports of medical equipment, except those exempted from basic customs duty (BCD). The aim of this development, stated in Sitharaman’s 2020 budget address, is to give impetus to the domestic industry and to generate resources for health services in the country.
BEIJING – China's position as a global power in active pharmaceutical ingredients (API) could be jeopardized by the ongoing and worsening trade war with the U.S. Perhaps more worrisome for the pharma industry, any disruption to Chinese supply chains could have a serious impact on drug manufacturing and accessibility globally.
BEIJING – The trade war has escalated. On Aug. 23, China announced retaliatory tariffs on $75 billion of U.S. exports, 10 days after the U.S. slapped the same amount on $300 billion of Chinese goods. Once again, the med-tech sector is neck deep in this tariff tit-for-tat.
