Australian company ResMed not included in Trump global tariffs

A multi-billion dollar Australian company has been spared from Donald Trump’s brutal global trade tariffs.

Australian sleep device giant ResMed has secured an exemption from Donald Trump’s global tariffs in a major win for the company.

ResMed CEO Mick Farrell on Thursday revealed the Trump administration will not apply tariffs to goods it makes in Australia or Singapore.

“Our products are used to treat patients with chronic respiratory conditions that have been subject to global tariff relief for decades,” Mr Farrell told investors.

“We have reaffirmed that. That is the case with federal authorities just this month in the current setting.”

ResMed CEO Mick Farrell.

A ResMed ventilator.

ResMed’s chief financial officer Brett Sandercock said the company, worth an estimated $49bn, was informed several days after President Trump made his shock tariffs announcement that it would keep its tariff exempt status.

“On April 5, US Customs and Border Protection issued a notice of implementation confirming that current tariff treatment of our products like ours continues,” Mr Sandercock said.

“Accordingly, we do not expect the introduction of US tariffs to have a material impact on our financial results.”

ResMed also revealed plans to double its manufacturing footprint in the US by opening a new facility in California, as growing demand for the medical company’s goods continues, Sky News Australia reported.

US President Donald Trump has imposed 10 per cent tariffs on most trading partners. Picture: AFP.

Since returning to the presidency in January, Mr Trump has imposed 10 per cent tariffs on most trading partners, including the European Union, as a means of pressuring them to negotiate trade agreements more favourable to the United States.

He has also slapped tariffs on sector-specific imports, adding to strained ties with partners.

But he saved his toughest blows for China, slapping an additional 145 per cent tariff on goods from the world’s second biggest economy this year – drawing strong retaliation.

Even though top US officials have touted 18 proposals brought to the trade team and said Washington was setting the stage for a deal with China, Beijing has called claims of ongoing trade talks “groundless.” Separately, France’s economy minister Eric Lombard said Thursday in Washington that the EU and United States are far from reaching a deal on tariffs.

– with AFP

Originally published as Australian company ResMed not included in Trump global tariffs