President Donald Trump wants America to manufacture more, strengthen supply chains, and depend less on foreign adversaries. Those are understandable goals. But broad tariffs on medical technology could undermine them.

Tariffs are taxes collected from American importers. Their costs ultimately show up as higher prices, lower profits, lower wages, and reduced investment. The Federal Reserve⁠ reports that core goods (excluding food and energy prices) inflation accelerated after tariffs increased in 2025, with larger price increases in categories more exposed to tariffs.