Trump Signs Executive Order to Slash Prescription Drug Prices

Former President Donald Trump has announced plans to sign what he calls one of the most significant executive actions in U.S. history.

Former President Donald Trump has announced plans to sign what he calls one of the most significant executive actions in U.S. history. The sweeping order is aimed at slashing the cost of prescription drugs for American consumers. The signing is set for 9:00 a.m., Thursday at the White House.

In a post on Truth Social, Trump addressed the long-standing issue of high pharmaceutical prices in the United States, a factor that has bedeviled presidents and sparked bipartisan frustration for decades.

He noted that American patients often pay five to ten times more than individuals in other countries for identical medications produced by the same manufacturers.

According to Trump, the pharmaceutical industry has largely justified this price differential by citing the high research and development costs incurred in the United States. However, he argued that this has unfairly placed the financial burden on American citizens.

The former president also touched upon the role of campaign contributions in keeping drug prices elevated and the lack of meaningful change despite years of discussion.

According to Trump, political influence has long shielded the industry from reforms that could lower consumer costs. But he emphasized that this would no longer be the case during his administration or with the support of the Republican Party.

Trump’s proposed solution centers around a “Most Favored Nation” pricing policy, where the United States would be guaranteed to pay no more for a drug than the lowest price paid by any other country.

He claimed that this approach could slash drug prices by 30% to 80%, and the effects would be seen almost immediately.

In addition to lowering consumer costs, Trump asserted that the policy would lead to a massive reduction in federal healthcare spending, saving the U.S. government trilliョ