MedSource joins others in the business community who support the U.S. government’s efforts to address unfair trade practices. With our firsthand knowledge of manufacturing and supply chain challenges on a global and local level, we authored a public comment in response to the Office of the US Trade Representative’s Section 301 Investigations Relating to Structural Excess Capacity and Production in Manufacturing Sectors.
We believe in civic discourse and expressing our company’s values when we make public comments about how tariffs have impacted our business and alternatives that could yield stronger results for domestic manufacturing. Read key excerpts from the letter below.
MedSource Labs believes in fair trade and a stronger domestic medtech industry. We want to see more medical devices manufactured in America, and we are willing to do our part to make that happen.
MedSource Labs stands ready to answer the call of the U.S. government to comply with fair trade policies and re-shore manufacturing. However, policies focused solely on penalizing imports cannot, on their own, build factories, train workers, or make American production economically viable. Reduce the cost of domestic manufacturing for reshoring to work — and that requires active investment, not just trade barriers.
To reinvest in domestic manufacturing for our company, we would look to the U.S. government to provide targeted incentives, like it has for other sectors critical to national security. Medtech deserves the same seriousness of purpose.
A real investment strategy could include:
- Tax credits or low/no-interest loans for domestic medtech production and capital investment.
- Grant programs to support manufacturing modernization and domestic workforce education and training.
- Regulatory streamlining to reduce the time and cost of bringing domestically manufactured products to market, without cutting corners on patient safety.
- Multi-year (and ideally bipartisan) policy commitments that give companies the stability to plan long-term investments.