“We are assuming in the 1.7% estimate for 2025 that the retaliatory tariffs go into effect once the 90-day pause period has elapsed.”

In context

“e flagging that could have an impact. And certainly, to the extent that our customers' hospitals see increased pricing as a derivative effect of tariffs, then that creates pressure for them. Travis Steed: Great. Thanks a lot. Operator: Thank you. And our next question comes from the line of Larry Biegelsen from Wells Fargo. Your question, please. Larry Biegelsen: Good afternoon. Thanks for taking the question. Jamie, a follow-up on tariffs. Just on the - did I hear you say that you're including the European reciprocal tariffs, which I think are 20% in 90 days assumed in that 1.7%. And Jamie, how should we think about your ability to mitigate the tariffs? Just maybe flesh that out a little bit more for us and how quickly you might be able to do that. I had one follow-up. Jamie Samath: Yes. We are assuming in the 1.7% estimate for 2025 that the retaliatory tariffs go into effect once the 90-day pause period has elapsed. Obviously, we'll see how that plays out, but we've reflected that in the 1.7%. With respect to the manufacturing operations in our supply chain to the extent that there are low-hanging fruit that isn't disruptive to our partners and our employees, then, of course, we'll pursue those. But I think our first move is to let things stabilize and evaluate then what's possible. We'll do that concurrently across the year, and we will consider things like, do you have to invest to mitigate what's the time to receive the benefit, what's the economic return of that. And there are complexities in some of the things that you might do from an operational perspective. And so we don't want to move too quickly, given how dynamic the environment is. Larry Biegelsen: That's helpful. And just for my follow-u”