US medical device makers climbs after US and China agree to slash tariffs

Shares of U.S. medical device makers rise premarket, 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%, Illumina ILMN.O gain 4%, Intuitive Surgical ISRG.O up 3.3%, Stryker SYK.N climb 1.4%, Boston Scientific BSX.N rise 2.3% and Dexcom DXCM.O up 1.9% premarket

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%, BSX up 15%, SYK up 5.8%, DXCM up 9% YTD