Baxter International Inc. stated during a recent conference call that although its sales in China account for just a tiny fraction of its total operations, the financial effects of the present tariffs are significant. Given the size of the tariffs imposed between the two nations, they now account for about half of the overall effect on our finances, said the company's spokesperson.

Given these difficulties, Baxter is investigating several ways to reduce the financial pressure, including raising inventory levels, looking for other suppliers, and evaluating other transportation paths. The business is also working with trade groups to support tariff exclusions.

Hospitals in particular and the healthcare industry as a whole are getting ready for possible price increases and shortages resulting from these levies. Experiences from the COVID-19 epidemic have underlined sharply the fragility of America's healthcare supply chain.

Baxter is not the only healthcare provider incurring notable tariff-related expenses. According to Morningstar, a financial services company, GE Healthcare Technologies Inc. projected earlier this week that tariffs would cause losses of about $500 million this year. Abbott Laboratories also forecasted comparable tariff expenses, based on Tribune stories, expecting losses in the "hundreds of millions of dollars."