While pharmaceutical companies are safe for the time being from country-specific reciprocal tariffs announced by President Trump Wednesday, medical devices are not.

That's according to The Advanced Medical Technology Association, or AdvaMed, a trade group representing medical devices. The organization expressed concern about the impact on the sector — but remained hopeful for either an exemption or relief from negotiations between the countries and the US.

"While disappointed in this initial announcement, we look forward to continuing our conversations with the White House to help them understand the important role the medtech industry plays in our health care ecosystem. The medtech industry should be exempted from these tariffs," AdvaMed president and CEO Scott Whitaker said in a statement Wednesday.

Analysts, meanwhile, remained wary about the broader implications for medtech long-term. That's because medical device manufacturing occurs globally. Mexico and the European Union are two key regions for the sector.

Read more: The latest news and updates on Trump's tariffs

JPMorgan analysts wrote in a note to clients that the most relevant reciprocal taxes on imports are the 20% tax on the European Union, 24% on Malaysia, and 10% on Costa Rica, as well as minimally the 34% on China.

The 25% tariffs on Canada and Mexico are also in question. If an exemption or reversal of the tariffs were going to happen, it would have to take place before April 5 for the baseline 10% tariff or before April 9 for the country-specific reciprocal tariffs Trump announced.

"While we think investors will wait to reflect potential impacts in their own models given the many unknowns and moving pieces, this update comes in worse than expected and likely represents at least modest downside relative to what’s been contemplated in current guidance for much of our coverage. We expect companies will provide their initial views on tariff impacts on upcoming 1Q25 earnings calls," the analysts wrote.

Read more: What Trump's tariffs mean for the economy and your wallet

Some of the largest medical device stocks slid more than 2% in early trading Thursday, after a mix of gains and losses in the immediate aftermath of the tariff announcement Wednesday, representing the confusion about the impact on the sector.

GE HealthCare (GEHC) was down more than 7% while Intuitive Surgical (ISRG) was down more than 2% at the open Thursday.

GEHC said, in a statement to Yahoo Finance, "This is a dynamic issue. Our teams are working on potential mitigation plans as these trade policies evolve. We will provide an update on our next earnings call."