Trump To Slash U.S. Drug Prices By Up To 80%
President Donald Trump has announced that he will sign a new executive order aimed at significantly lowering the cost of prescription drugs by aligning U.S. prices with those paid by other high-income countries.
In a post on Truth Social late Sunday, Trump said the order, expected to be signed Monday morning, would implement a “Most Favored Nation” pricing policy.
According to him, this approach would ensure the U.S. pays no more than the lowest price charged for the same medication in any developed country—a move that could cut prices by as much as 80%.
“The United States will pay the same price as the nation that pays the lowest price anywhere in the world,” Trump wrote adding that the policy will bring long-overdue fairness to American consumers.
“They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!” he stated.
According to Reuters, the U.S. currently pays the highest prices globally for many prescription drugs, often nearly triple the cost in other advanced economies. Trump has long criticized this disparity and attempted to address it during his first term.
A similar international pricing proposal in 2020 was blocked in court, though it was projected to save over $85bn in taxpayer spending over seven years.
According to pharmaceutical industry experts familiar with the plan, the upcoming order is expected to go beyond the scope of former U.S. President Joe Biden’s Inflation Reduction Act, which authorised Medicare to negotiate prices for 10 drugs starting next year, with more negotiations planned for later in 2025.
More details of the new order are expected to be released after the signing of the order, which would affect a wide range of medications, particularly those reimbursed under Medicare.
Trump To Slash U.S. Drug Prices By Up To 80% is first published on The Whistler Newspaper
