Trump to Sign Groundbreaking Executive Order
Trump is poised to sign a monumental executive order today aimed at reducing prescription drug prices. This new order is set to address what he calls a “very embarrassing” issue and could dramatically lower healthcare costs in the U.S.
Addressing High Drug Prices
Since taking office, Trump has signed numerous executive orders, but this one promises to be among the most consequential. On May 11, he shared on Truth Social that the upcoming order will cut prescription drug costs, a longstanding issue in the U.S. that has baffled many.
Trump expressed frustration with the vast price difference between American drugs and those in other countries, sometimes five to ten times higher for the same medication. “It was always difficult to explain and very embarrassing,” he said.
Action Against Big Pharma
The new order, which Trump will sign at 9 a.m. at the White House, aims to reduce drug prices by as much as 80%. Trump is set to implement a “Most Favored Nation’s Policy,” ensuring the U.S. pays the same price for drugs as the nation with the lowest prices globally.
This policy shift, Trump claims, will bring “fairness to America” and lower healthcare costs significantly. Additionally, the move is expected to save the U.S. “trillions of dollars.”
Previous Efforts and Future Goals
Trump previously attempted to tackle drug prices during his first term, releasing executive orders in 2020 that only affected Medicare Part B drugs. However, those orders were blocked by a federal judge. Last month, Trump discussed his plans to incentivize pharmaceutical companies to move back to the U.S. by imposing tariffs.
He emphasized that the tariffs would push drug companies to relocate, with U.S. market demand driving the change. “If they don’t, they’ve got a big tax to pay,” he stated.
Looking Ahead
As Trump prepares to sign this executive order, the impact could be far-reaching, not just in terms of drug costs but also in reshaping the pharmaceutical industry. How far this will go in addressing the issue of rising healthcare costs remains to be seen, but Trump’s commitment to change is clear.