Cochlear secures zero tariff status in US
- Cochlear will continue importing hearing implant systems into the United States duty-free following a government review.
- The decision removes potential import duty costs for the medical device maker in its key American market.
- The company plans to engage with global trade regulators to maintain accessible hearing solutions worldwide.
Hearing device maker Cochlear (ASX:COH) confirmed it will continue importing its implant systems into the United States under a 0% duty rate.
The determination follows the conclusion of the United States Section 301 investigation into foreign labour practices and international trade policies.
“We're pleased that the US government has recognised the importance of continued access for Americans who rely on the medical technology of cochlear implants to hear clearly, participate fully in life and deliver a substantial social and economic contribution to the US,” said Cochlear CEO and President Dig Howitt.
The final United States determination included cochlear implants under a specific duty-free chapter of the local tariff schedule.
Following the announcement, the Cochlear share price was up 0.33% at $112.48.
The company stated that only around 5% of individuals who could benefit from a cochlear implant currently access one.
Cochlear plans to expand access by supporting policy frameworks and advancing the medicalisation of hearing loss across global markets.
