Medical device maker Medtronic is looking at options to modify its global manufacturing footprint as part of efforts to mitigate any impact of US 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 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 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 US 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 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.” Reuters