Is the ongoing trade war between the United States and China good or bad for the U.S. economy?
According to one Fox News columnist, if President Donald Trump follows through on the additional tariffs on Chinese products he proposed earlier this week, numerous businesses and the healthcare sector could be “harmed to a considerable degree.” And to make his point, he examined its potential impact on the medical imaging industry.
“This is a sector of the economy where American remains the undisputed global leader,” wrote Peter Roff. “A high-tech and high-growth industry, medical technology has been hailed as “an American success story” by dozens of bipartisan members of Congress. Driven by a desire to lead the world in innovation and create cutting-edge technology to improve patient diagnostics, the industry is also good for the U.S. economy.”
However, Roff noted, these tariffs could cause the industry legitimate problems. The tariffs could impact patient access, for example, and they would surely “wipe out some American jobs.”
Roff also cited research from the Medical Imaging & Technology Alliance (MITA) in his column, research that shows tariffs would cost companies close to $140 million per year.
“This money has to come from somewhere,” he wrote. “To help make up for the shortfall, surveyed companies unanimously planned to reduce their U.S. workforces and decrease their investments in research and development to fund this new and unnecessary expense.”
To read the full column, click the link below.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.