BD reaches supply chain pact with Trump administration for relief from future Section 232 tariffs

BD said it has struck a partnership with the Trump administration under which it will invest $19 billion in U.S. manufacturing over several years, including $3 billion to expand strategic production sites and increase annual U.S. output by about 5 billion essential medical consumables, in exchange for relief from any future Section 232 tariffs on BD products, subject to undisclosed milestones. BD also agreed to make all of its needles used in the U.S. with American-made steel. BD said it would not yet quantify the financial impact because final tariff rates and products were not determined, and it expects to provide more information when the Section 232 tariffs are finalized.