financetom
Business
financetom
/
Business
/
Medtronic explores options to optimize manufacturing operations amid Trump's tariff threats
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Medtronic explores options to optimize manufacturing operations amid Trump's tariff threats
Feb 24, 2025 10:50 PM

By Bhanvi Satija and Kashish Tandon

HYDERABAD (Reuters) - Medical device maker Medtronic ( MDT ) is looking at options to modify its global manufacturing footprint as part of efforts to mitigate any impact of U.S. President Donald Trump's tariff plans, a company executive told Reuters on Tuesday.

The company, whose products range from insulin pumps to surgical robots, has been closely monitoring Trump's tariff plans due to its presence in Mexico. The country houses the device maker's third largest manufacturing facility, according to its latest annual report.

"We continue to look at ways to optimize our manufacturing footprint," Medtronic's ( MDT ) Chief Technology Officer Ken Washington said on the sidelines of the BioAsia conference in the southern Indian state of Telangana.

Trump imposed 25% duties on imports from Mexico and Canada that were to go into effect in early February, but then paused them until March 4, pending negotiations with those two nations.

Medtronic's ( MDT ) Washington did not comment on whether India was part of the strategy to refine the manufacturing operations. The company had in 2021 launched its largest research and developmental center outside of the U.S. in Telangana.

Washington said the company would stay focused on its core work in a reply to Trump's threats to impose a "25% or higher" levies on semiconductors and pharmaceutical imports.

"A company like Medtronic ( MDT ) can't survive for 75 years if you don't learn the skill of navigating the ups and downs, and ebbs and flows of different political platforms."

Washington said he was focused on the adoption of artificial intelligence. He expects digital and AI roles to grow and digital spending to increase, without providing specific details.

"We have set expectations that everyone should embrace AI as a way of doing business."

(Reporting by Bhanvi Satija, Kashish Tandon and Rishika Sadam in Hyderabad; writing by Manas Mishra; Editing by Sriraj Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Immatics Says Two Product Candidates Show Favorable Tolerability in Patients With Solid Tumors
Immatics Says Two Product Candidates Show Favorable Tolerability in Patients With Solid Tumors
Nov 12, 2025
08:32 AM EST, 11/12/2025 (MT Newswires) -- Immatics ( IMTX ) said Wednesday that updated phase 1a dose escalation data from the two product candidates in its TCR Bispecifics pipeline showed favorable tolerability at the recommended phase 2 dose in patients with advanced metastatic solid tumors. The IMA402 and IMA401 TCR Bispecifics also demonstrated deep and durable responses in heavily...
Mercer Advisors Deepens Tax Capabilities With Addition of Beach Freeman Lim & Cleland
Mercer Advisors Deepens Tax Capabilities With Addition of Beach Freeman Lim & Cleland
Nov 12, 2025
Tax specialist firm expands Mercer Advisors’ Southern California footprint, strengthens family office platform to meet growing demand for sophisticated tax planning DENVER--(BUSINESS WIRE)-- Mercer Advisors, a national wealth management and financial planning organization, today announced the acquisition of Beach Freeman Lim & Cleland (“BFLC”), a leading Southern California-based tax firm focused on providing tax, accounting and business advisory services...
BRIEF-A. O. Smith To Acquire Leonard Valve Company, A Leader In Water Temperature And Flow Solutions
BRIEF-A. O. Smith To Acquire Leonard Valve Company, A Leader In Water Temperature And Flow Solutions
Nov 12, 2025
Nov 12 (Reuters) - A O Smith Corp ( AOS ): * A. O. SMITH TO ACQUIRE LEONARD VALVE COMPANY, A LEADER IN WATER TEMPERATURE AND FLOW SOLUTIONS * A O SMITH CORP ( AOS ) - DEAL VALUED AT $412 MILLION AFTER TAX BENEFITS * A O SMITH CORP ( AOS ) - DEAL EXPECTED TO BE ACCRETIVE TO...
Richmond Mutual to Buy Farmers Bancorp in $82 Million All-Stock Deal
Richmond Mutual to Buy Farmers Bancorp in $82 Million All-Stock Deal
Nov 12, 2025
08:31 AM EST, 11/12/2025 (MT Newswires) -- Richmond Mutual Bancorporation ( RMBI ) said Wednesday it will acquire The Farmers Bancorp in an all-stock deal valued at about $82 million, or $44.71 per Farmers Bancorp share. Each Farmers Bancorp share will convert into 3.40 Richmond Mutual shares, leaving Richmond holders with about 62% of the combined company and Farmers Bancorp...
Copyright 2023-2026 - www.financetom.com All Rights Reserved