COVID-19
In 2018, health experts warned Trump. Putting tariffs on medical products would hurt US preparedness for pandemics. He did it anyway.
How Trump's tariffs may contribute to shortages at the time of a national health crisis.
My latest 1/
piie.com/blogs/trade-an…
In 2018, health experts warned Trump. Putting tariffs on medical products would hurt US preparedness for pandemics. He did it anyway.
How Trump's tariffs may contribute to shortages at the time of a national health crisis.
My latest 1/
piie.com/blogs/trade-an…
“These products are essential to protecting healthcare providers and their patients"
“products on the proposed list are used widely throughout healthcare settings and are a critical component of our nation's response to public health emergencies”
~ Matt Rowan, August 2018 2/
“products on the proposed list are used widely throughout healthcare settings and are a critical component of our nation's response to public health emergencies”
~ Matt Rowan, August 2018 2/
Despite warnings from health experts, Trump’s began imposing 25 percent tariffs on Chinese medical equipment in July 2018.
The tariffs resulted in a sharp decline in US imports from China of many of these critical medical products between 2017 and 2019... 3/
The tariffs resulted in a sharp decline in US imports from China of many of these critical medical products between 2017 and 2019... 3/
“Finding alternative sources of supply for these products to minimize the cost impact of the duties is not a viable option in the near or medium term."
The FDA process ensures things work and are safe.
“This process can take more than two years.”
~ Lara Simmons, June 2019 4/
The FDA process ensures things work and are safe.
“This process can take more than two years.”
~ Lara Simmons, June 2019 4/
Today, for medical treatment needed to treat COVID-19, Trump's 25% tariffs cover $1.1 billion of imports
USTR has granted some exclusions, but they are temporary, partial, and massive uncertainty remains. (see again figure 1 above)... 5/
USTR has granted some exclusions, but they are temporary, partial, and massive uncertainty remains. (see again figure 1 above)... 5/
Other countries are restricting their exports of medical equipment, making matters worse for Americans
According to @SimonEvenett and data from @GTAlert, 16 countries put export bans on medical supplies in March alone --24 in total so far in 2020!!!
globaltradealert.org/reports/50 6/
According to @SimonEvenett and data from @GTAlert, 16 countries put export bans on medical supplies in March alone --24 in total so far in 2020!!!
globaltradealert.org/reports/50 6/
Main foreign suppliers for US market often differ, depending on the product.
It could be China, Mexico or the EU.
An EU trade ban, as Trump stated and retracted earlier this week, would be a BIG problem for the US.
US needs diversity of sourcing and to be cooperative 7/
It could be China, Mexico or the EU.
An EU trade ban, as Trump stated and retracted earlier this week, would be a BIG problem for the US.
US needs diversity of sourcing and to be cooperative 7/
During this crisis, the United States needs to be more open and more cooperative on trade
These remain early days. COVID-19, unfortunately, is likely to continue to spread
To protect human health, this is a critical moment for global cooperation.
ENDS /
piie.com/blogs/trade-an…
These remain early days. COVID-19, unfortunately, is likely to continue to spread
To protect human health, this is a critical moment for global cooperation.
ENDS /
piie.com/blogs/trade-an…
