Strategies for Coping with Tariff-Related Uncertainty

Guillaume Corpart

Tariffs are top of mind for many these days, particularly those dealing with international business relationships and the day-to-day realities of selling medical devices, equipment and supplies in different countries. Economic uncertainty quickly translates to uncertainty, making sales and forecasts more challenging. The last several months have brought plenty of that in the form of constantly evolving tariff news coming from the United States.

The Time of Tariffs

Tariff news has been almost constant, and evolving, since Donald Trump took office as the President of the United States in January 2025. One of the first major changes was a universal 10% baseline tariff on all countries, which went into effect on April 5. However, other countries, including Mexico, Canada, China and more, have been hit with even higher tariffs. Various tariffs have also been implemented for specific goods, such as oil, steel, minerals, and more. Other factors that have impacted tariff levels include the perception of an unfair trade balance with the United States, promises of larger investments, and individual negotiations with the White House, amongst others.

One resulting fallout of this is a “tariff yo-yo.” Tariff news has become almost a daily occurrence, and the rates on different countries, goods, and services seems to change frequently. It’s also unclear which tariffs have been implemented, and which have been merely threatened. This makes it confusing for equipment manufacturers and providers to understand what tariff rates will be leveraged on their goods at any given time in any given country.

The Reciprocal Fallout

Then, of course, there’s the impact of “reciprocal tariffs,” which some countries, including China, have leveraged on American imports because of America’s tariff-related actions. This means that manufacturers not only have to be concerned about the rate of tariffs in the United States, but across the globe, further muddying the tariff waters. Interestingly, Donald Trump’s heavy use of tariffs in international trade may also be having the secondary impact of encouraging other countries to do the same.

A recent example of this is the trade tension between the EU and China related to medical devices. These issues first began in June, when the European Commission announced that Chinese companies would no longer be able to participate in EU public tenders for medical devices that are worth over $5.8 million. In July, the Chinese reciprocated on the EU with a similar regulation. The Chinese government is now restricted from purchasing medical devices from the European Union that exceed 45 million yuan ($6.3 million) in value.

Global trade tensions have become much more than just an American import issue. They are a factor that companies will need to consider in their price points and sales strategies, regardless of which country they’re coming from and where they’re going.

How Trade Instability Impacts the Medical Market

While they may have their political defenders, there’s no question that tariffs make international business challenging for all participants. When prices and taxes are stable, it allows companies to think ahead. They can plan their sales strategy, set their vision for the future and create a roadmap for continuing growth. Forecasts become more challenging when businesses are unsure of how to set pricing on their products across different markets from day to day.

For the medical device market, some of the challenges of tariffs become even more complex and critical. Many medical devices are large, expensive machines, so the impacts of tariffs can be enormous for items that are already quite expensive. They are also often manufactured using materials from across the globe, and each of these components may be impacted by their own set of tariffs. So not only the sales, but the manufacturing of these items grows more complex and costly.

Then there’s the essential nature of many of these machines. While cars and other costly, complex equipment are undoubtedly important in keeping the economy moving, people’s lives depend on medical equipment, devices and pharmaceuticals. If they can’t get them, the costs to a region can be enormous. This is particularly true in a region like Latin America, where over 90% of all the medical devices and equipment in the region are imported from other countries.

How GHI Can Help You Form Your Sales Strategy

Despite the continuing global challenges of tariffs, the reality is that international commerce will continue, particularly in a medical sales market where equipment and devices are essential for public welfare. The firms that will come out ahead are those with the most up-to-date market data on which devices are selling in which markets, and for what prices. In times of uncertainty, you can’t afford to operate blindly. You need real, actionable intelligence to guide your decisions moving forward.

One tool that helps medical firms make informed decisions is GHI’s BrandTrack (formerly ShareScope). By providing real-time data on which devices are selling in which markets, and who is importing more or less down to a product-by-product level, it is essentially providing market tariff impact information in real time.

“With a BrandTrack subscription, companies can monitor the import of their devices in several countries to see where they stand, and then verify that with their approach internally,” says Mariana Romero Roy, Senior Director of Intelligence Services for Global Health Intelligence. “They can also view data from their competitors in the market and define their marketing strategies accordingly.”

Next Steps

Contact GHI to learn more about the impact of tariffs on the health care industry in Latin America and how you can navigate the challenges. Our team of researchers can provide the analysis you need to gain valuable insights to support strategic decision-making in your industry.