On April 4, 2018, the Office of the United States Trade Representative (USTR), based on the results of the “301 Survey”, issued a recommended list of Chinese goods subject to an additional tariff of 25%. In the list, medical device products include general medical consumables, mid- and low-end medical equipment and high-performance medical devices and products.
1. Background of additional US tariffs on Chinese goods
(1) China’s exports to the United States are dominated by mid- and low-end products
(2) The United States is a global leader in the development of medical device industry.
2. Impact of additional US tariffs on China’s medical device industry
(1) It has no significant impact on the export situation of the medical device industry
(2) The restriction on some imported products in the short term has impact on the supply of medical devices for medical institutions and the public in China.
(3) Technology import and export will face severe challenges
3. Suggestions and opinions on accelerating the innovation and development of the medical device industry
(1) Create the environment for innovation in a government-led manner
(2) Define enterprises as the main body of innovation
(3) Strengthen the intellectual property protection
(4) Emphasize creative service industries, translational medicine and international cooperation
(5) Improve the research funding system
(6) Provide guidance for division of work and collaboration between industries