(Reuters) -Philips is actively engaged with policymakers in Washington about investigations into U.S. imports of medical technology items but does not expect an immediate impact from the probes, it
Philips Engages with US Officials on Medical Technology Import Probes
Philips' Engagement with US Policymakers
(Reuters) -Philips is actively engaged with policymakers in Washington about investigations into U.S. imports of medical technology items but does not expect an immediate impact from the probes, it said on Thursday.
Overview of Section 232 Investigations
The U.S. Department of Commerce said on Wednesday it had opened new national security investigations into the import of personal protective equipment, medical items, robotics and industrial machinery.
Potential Impact on Import Tariffs
The so-called Section 232 investigations, which were opened on September 2 but not publicly disclosed previously, could be used as a basis for higher import tariffs on a wide swath of medical and industrial goods.
Market Reaction to Probes
That could mean increased levies on imported face masks, syringes and infusion pumps as well as robotics and industrial machinery like programmable computer-controlled mechanical systems and industrial stamping and pressing machines.
"At this stage, details are limited, and a range of potential outcomes remain under discussion," Philips told Reuters in an emailed statement.
Shares in the Dutch healthcare technology company were down almost 3% at around 0845 GMT, and those of its European med-tech peers Siemens Healthineers, Coloplast, Sonova, Demant, GN Store Nord, Smith+Nephew fell between 1% and 4%.
(Reporting by Alessandro ParodiEditing by Bernadette Baum and Joe Bavier)
