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ResMed (ASX:RMD) has reported it received an exemption from the current U.S. Administration, meaning it can keep sending its products from Australia and Singapore to the U.S. tariff-free.
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Supposedly having been confirmed on April 5, that bombshell hit the market today via ResMed’s latest quarterly webcast, also released on Thursday.
(Worth reminding: ResMed is also listed on the NYSE.)
So how does ResMed get an exemption while nobody else can? That’s because of something called the Nairobi Protocol – an international agreement that means products treating persons with a disability are not subject to trade barriers.
That could be a liberal application of the protocol: ResMed sells products for sleep disorders.
At any rate, that’s not the only big thing to raise an eyebrow over. Probably the bigger point is: Is the U.S. Government’s word worth anything at all?
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That was a point ResMed’s management noted in its webcast, to be fair. Mick Farrell ultimately said – though, in nicer words than mine – ‘nothing [is] certain.’
No kidding.
RMD last traded at $36.14/sh.
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