Medtronic PLC (MDT) News & EventsMDTNews & EventsMedtronic PLC

Canada Raises Tariffs on U.S. Steel and Aluminum to 50%

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.RETALIATORY TARIFFS:Canada is matching Trump's weekend tariff escalation with a sweeping package of counter tariffs that directly targets U.S. steel, aluminum and downstream manufacturing. Prime Minister Mark Carney will double Canada's existing counter-tariffs on U.S. steel and aluminum to 50%, while adding new 50% duties on U.S. furniture, clothing, electronics, smartphones, and gaming consoles. Overall, the retaliatory levies cover roughly $20B in annual imports. The measures take effect on September 8 and represent a sharp reversal in Carney's earlier conciliatory stance after trade talks between Canada and U.S. collapsed on Friday. Publicly traded companies in the space include ArcelorMittal, Cleveland-Cliffs, Nucor, Steel Dynamicsand U.S. Steel. Publicly traded companies in the aluminum space include Alcoa, Kaiser Aluminum, Rio Tinto, Century Aluminum, and Constellium.DEPUTY ROLES:The Department of Health and Human Services is planning to create two new deputy commissioner roles at the Food and Drug Administration, one of which would focus on technology and the intersection of health and artificial intelligence, CNBC's Annika Kim Constantino. The other new position is for a deputy commissioner for drugs, according to two sources familiar with the plan. Publicly-traded companies operating in the space include Pfizer, Merck, Bristol Myers, Eli Lilly, AbbVie, Amgen, Medtronic, Abbott, Boston Scientific, Stryker, Intuitive Surgical, GE HealthCare, Teladoc, and Oracle.U.S.-IRAN:In a post on Truth Social, President Trump stated, "The failing Islamic Republic of Iran is not paying large segments of their military, while at the same time killing protesters, even when they are not protesting, at levels not seen before. It is a humanitarian crisis of epic proportions, and must be stopped, NOW."

Medtronic Expands CE Mark Indication for Sphere-9 Catheter

Medtronic announced an expanded CE Mark indication for the Affera Mapping and Ablation System with Sphere-9 Catheter to treat ventricular arrhythmias, including ventricular tachycardia and premature ventricular complexes. The Sphere-9 catheter is the first all-in-one mapping and ablation, large-tip focal, dual-energy catheter CE marked for ventricular ablation. Additionally, in recognition of the critical unmet need for ventricular arrhythmia treatments, the U.S. FDA granted Breakthrough Device Designation for the Sphere-9 catheter for the treatment of ventricular arrhythmias, which provides an expedited regulatory pathway for the technology in this patient population. The Sphere VT pivotal trial to evaluate Sphere-9 for the treatment of VT and support future approval in the U.S. is now enrolling patients.