Medtronic (MDT) is exploring options to optimize its global manufacturing operations in order to mitigate the impact of US President Donald Trump's tariff plans, Reuters reported Tuesday, citing the company's chief technology officer, Ken Washington.
The medical device maker has been closely monitoring Trump's tariff plans due to its presence in Mexico, which houses Medtronic's third largest manufacturing facility, the report said.
This comes after Trump imposed 25% duties on imports from Mexico and Canada that were to become effective early this month, but have been delayed until March 4 pending negotiations with the two countries.
Washington did not mention whether India was also part of the strategy to refine manufacturing operations, where the company launched its largest research and developmental center outside of the US in 2021, Reuters reported.
The company did not immediately respond to MT Newswires' request for comment on the matter.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.