RETRACTABLE TECHNOLOGIES INC

Item 1A. Risk Factors.

 In addition to the risk factors disclosed in our most recent annual report which is available on EDGAR, the following additional risk factor has been identified.

On May 14, 2024, PresidRecent Biden direly enacted the Office of the U.S. Trade Representative (USTR) ariffs on our products are expected to increase tariffs on certain goods imported from China under Section 301 of the Trade Ahave a material negative impact of 1974. Among those products included were syringes and needles, at a to our results of operate of 50%. As noted in this report, for the first six months of 2024, 91% of our products were purchased from our manufacturers in China, most of which would be ions and financial position. We are working to lessen the financial impacted by of the contemplated tatariffs. On July 30, 2024, the USTR announced that, in response to more than 1,100 public comments received regardi, including shifting a larger portion of manufacturing the modifications, it would continue reviewing the comments and expects its final determinaof 1mL, 3mL, and EasyPoint needles to our domestic manufacturing facility, but these actions will be issued in August,expensive and that the modificatioe timeline remains slated for 2024 will take effect approximately two weeks after its final determination. In the eveuncertain. Likewise, our lawsuit to exempt our payment that the tof tariffs affecting syringes and needles armay not succeed. Consequently, we enacted, the resultingxpect a material increase in costs could have awhich is expected to materially impact to oour results of ooperations and financial position. We are working to evaluate options to lessen the financial imay impact of the tariffs, including shifting a larger portion of manufacturing of 1mL, 3mL, and EasyPoint needles to our domestic manufacturing faclong-term viability.