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US Secretary of Commerce Howard Lutnick suggested the tariffs could be lowered, but not completely eliminated. Credit: VIEW Press / GettyImages

The world has been playing catch up with US President Donald Trump’s tariff threats as global leaders have tried to discern fact from fiction. For now, that waiting game seems to be over. Long-feared tariffs on two of the US’s closest allies came into effect on 4 March.

Canadian and Mexican imports will now face 25% tariffs in the US, following a one-month delay that had seeded expectations for a last-minute deal to come through. The US has also doubled the 10% tariff on Chinese goods that went into effect on 4 February. The actions set off retaliation tariffs from China and Canada.

Given the by-now characteristic unpredictability of this administration, whether these tariffs remain for a few days, months or years is anyone’s guess. What we do know is that their imposition breaks a nearly century-long tradition of open trade with allied countries. 

Philips has posted 33.6% higher losses for 2024 compared to 2023 as the company continues to battle weaker demand in China and settlements for its faulty sleep apnoea devices.

Philips reported losses of €698m for the full year 2024, up from the €463m it lost the year before. Nominal sales growth decreased by 1%, with the Dutch medtech giant bringing in revenue just over $18bn. Earnings per share missed estimates by Zacks-surveyed analysts by $0.01.

Shares in Philips at market open on the 19 February reflected the weaker than anticipated financials, opening 5.2% down on the Amsterdam exchange. Shares continued to slump on the 20 February, losing a further 4.4% in value compared to the previous day’s opening price. Bank of America Securities analyst Julien Ouaddour reiterated a ‘hold’ rating on the company’s stock. 

Medtronic has received approval from the US Food and Drug Administration (FDA) for BrainSense, its adaptive deep brain stimulation (aDBS) therapy for patients living with Parkinson’s disease.

The approval comes just one month after Medtronic received a CE mark in Europe for the system, which is designed to automatically adjust stimulation for Parkinson’s disease patients based on their unique brain activity to address symptoms such as involuntary shaking and balance issues.

The medtech giant has also received FDA clearance for the BrainSense Electrode Identifier (EI). Also cleared in Europe, the EI provides a detailed view of the brain signals of Parkinson’s patients to help clinicians improve DBS programming and therapy optimisation. 

Teleflex is splitting its business into two independently traded entities, with a completion date set for mid-2026. The company’s urology, acute care, and OEM businesses will be grouped under Teleflex NewCo while Teleflex RemainCo will consist of Teleflex’s vascular access, interventional, and surgical businesses.

The business units under NewCo achieved around $1.4bn in combined revenues in 2024. According to Teleflex, the new entity will benefit from a simplified operating model, increased management focus, and a tailored investment and capital allocation strategy. These factors are expected to put NewCo in a stronger position to “identify, invest in, and capitalise” on opportunities unique to its businesses.

The businesses set to become part of RemainCo generated around $2.4bn in 2024 revenues. Teleflex expects the new entity to generate constant currency revenue growth of 6% post-separation. Once complete, Teleflex said the separation will allow RemainCo with a more “nimble operating model” to streamline the entity’s manufacturing footprint from 19 facilities at Teleflex as of year-end 2025 to seven post-separation. The remaining 12 are expected to transfer to NewCo. 

Zimmer Biomet, one of the largest orthopaedic medtech companies in the world, has launched a campaign with Hollywood actor Arnold Schwarzenegger to provide an online community for patients with mobility issues. 

Schwarzenegger joined Zimmer as chief movement officer in November 2024 to promote joint health to wide-ranging communities in the US. The new campaign, called “You’ll Be Back”, is a play on a catchphrase by the Austrian-born actor’s role in the Terminator film franchise. 

“’You’ll Be Back’ aims to bring together people who are struggling with their mobility and inspire change and action,” shared Schwarzenegger. 

The US Centers for Disease Control (CDC) estimates nearly 27 million people in the country aged over 65 are impacted by osteoarthritis. The disease, which is the most common reason for needing joint replacement, occurs due to wearing of cartilage.