Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 64

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 64
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 trade. The U.S.
government has recently imposed, or is currently considering imposing, tariffs on certain trade partners. Tariffs, economic sanctions,
and other changes in U.S. trade policy have in the past and could in the future trigger retaliatory actions by affected countries, and
certain foreign governments have instituted or are considering imposing retaliatory measures on certain U.S. goods. Further, any emerging
protectionist or nationalist trends (whether regulatory- or consumer-driven) either in the U.S. or in other countries could affect the
trade environment. Our business, like many other corporations, would be impacted by changes to the trade policies of the U.S. and foreign
countries (including governmental action related to tariffs, international trade agreements, or economic sanctions). Such changes have
the potential to adversely impact the U.S. economy or certain sectors thereof, the global economy, and our industry, and as a result,
could have a material adverse effect on our business, financial condition, and results of operations.

Further,
due to increasing inflation, operating costs for many businesses have increased and, in the future, could impact demand or pricing manufacturing
of our drug candidates or services providers. Inflation rates, particularly in the U.S., have increased recently to levels not seen in
years, and increased inflation may result in increases in our operating costs (including employee wages), reduced liquidity, and limits
on our ability to access credit or otherwise raise capital. In addition, the Federal Reserve has raised, and may again raise, interest
rates in response to concerns about inflation, which coupled with reduced government spending and volatility in financial markets may
have the effect of further increasing economic uncertainty and heightening these risks.

Actual
events involving reduced or limited liquidity, defaults, non-performance, or other adverse developments that affect financial institutions
or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events
of these kinds, have in the past and may in the future lead to market-wide liquidity problems.

 33 

In
addition, the global macroeconomic environment could be negatively affected by, among other things, a resurgence of COVID-19 or other
pandemics or epidemics, instability in global economic markets, increased U.S. trade tariffs and trade disputes with other countries,
instability in the global credit markets, supply chain weaknesses, instability in the geopolitical environment as a result of the withdrawal
of the United Kingdom from the European Union, the Russian invasion of Ukraine, the war in