In an announcement on TRUTH Social over the weekend, President Trump indicated he’s preparing an executive order to tackle out-of-control prices of prescription drugs in America.
Trump is promising what he calls “most favored nation” pricing, which would cut pharmaceutical and prescription drug prices “almost immediately, by 30% to 80%,” he announced in the post Sunday night.
“I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” he added.
From The New York Post:
The US spends $400 billion on prescription drugs every year — often triple what other countries spend and typically more than any other nation.
Trump said he wants to get rid of the gap. He did not offer any details in his announcement — which he teased beforehand as “one of the most important and impactful” Truths he’s ever posted — but promised to deliver them in his executive order Monday morning.
“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States [sic] of America were SO MUCH HIGHER IN PRICE THAN THEY WERE IN ANY OTHER NATION, SOMETIMES BEING FIVE TO TEN TIMES MORE EXPENSIVE THAN THE SAME DRUG, MANUFACTURED IN THE EXACT SAME LABORATORY OR PLANT, BY THE SAME COMPANY???” he wrote. “It was always difficult to explain and very embarrassing because, in fact, there was no correct or rightful answer.”
With his announcement, the commander-in-chief is revisiting a similar proposal that he tried to implement during his first administration, that was blocked by federal courts and then rescinded by the Biden administration.
At the time, the courts noted that Medicare was barred from negotiating drug prices. However, the legal roadblock was removed in 2022 with the passage of the Democrats’ Inflation Reduction Act, which gave Medicare the power to bargain over prices for a small number of drugs.
More over at The New York Post:
Trump to sign executive order to cut prescription drug prices by 30% to 80% — he says to match other countries https://t.co/tPF3OBRngL pic.twitter.com/cjrpFYPa8A
— New York Post (@nypost) May 11, 2025