President Donald Trump on Sunday announced on Truth Social a significant executive action aimed at dramatically lowering the cost of prescription drugs in the United States, a move he described as one of the most consequential in the nation’s history.
Citing the long-standing disparity between U.S. drug prices and those in other developed nations, often five to ten times higher for the same medication, the President outlined a plan centered on a “most favored nation’s policy.”
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The executive order, which President Trump is scheduled to sign tomorrow morning at the White House, is intended to reduce prescription drug and pharmaceutical prices “almost immediately” by what he claimed could be between 30% and 80%. The core of the policy is to tie the prices paid by the United States to the lowest price paid for the same drug anywhere else in the world.
In a statement, President Trump directly challenged the pharmaceutical industry’s long-held justification of high U.S. prices being necessary to cover research and development costs, calling it an explanation borne by “the ‘suckers’ of America, ALONE.”
Trump asserted that this new policy would bring “FAIRNESS TO AMERICA” and significantly reduce citizens’ healthcare costs and potentially save the United States “TRILLIONS OF DOLLARS.”
READ :Top Adviser Shoots Down Claim That Trump Will Hike Taxes On Rich To Fund ‘No Tax On Tips’ Plan
The “most favored nation’s policy” seeks to leverage the purchasing power of the U.S. government, particularly within programs like Medicare, to demand prices comparable to those secured by countries with lower drug costs, often through government negotiation.
Details of the executive order and its implementation are expected to become clearer following the signing ceremony. The announcement signals a renewed push by President Trump to tackle high drug costs, a promise made during his previous campaigns.
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