Updates
** Shares of U.S. medical device makers rise, after the U.S. and China agreed to temporarily slash reciprocal tariffs on each other's goods
** The U.S. will cut tariffs on Chinese imports from 145% to 30% and China will cut tariffs on US imports from 125% to 10%
** Shares of GE Healthcare GEHC.O rise 7.5%, Illumina ILMN.O gain 6.3%, Baxter BAX.N up 4.6%, Intuitive Surgical ISRG.O up 4.2%, Medtronic MDT.N up 2.8%, Stryker SYK.N climb 2% and Dexcom DXCM.O up 1.7%
** Reduced tariffs will be in effect for 90 days
** China is a critical supplier of raw materials and components for the pharmaceutical and medical device firms
** As of last close, ILMN down 43.3%, GEHC down 10.6%, ISRG up 2.8%, MDT up 6%, BAX up 10%, SYK up 5.8% and DXCM up 9% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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