U.S. President Donald Trump has announced plans to dramatically cut the cost of prescription medications, promising reductions ranging from 30% to 80% through a sweeping executive order.
Trump made the announcement via social media, declaring the move would bring long-overdue fairness to American consumers and mark one of the most impactful executive actions in U.S. history.
“Prescription Drug and Pharmaceutical prices will be reduced, almost immediately, by 30 per cent to 80 per cent,” Trump posted. He added that prices would be adjusted globally to ensure the U.S. pays no more than the lowest-paying country under a new “most favored nation” policy.
The executive order, expected to be signed at 9 a.m. local time on Monday, follows Trump’s earlier promise of an “earth-shattering” policy announcement.
The United States, which lacks centralized price regulation for medications, often faces some of the world’s highest drug costs. Currently, pharmaceutical companies have significant influence over pricing, with limited government intervention.
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Trump previously attempted to tackle drug pricing during his first term, proposing price-matching measures for Medicare and discounted access to essential drugs for low-income Americans. However, those initiatives faced stiff legal and political opposition and were never implemented.
This latest move, however, revives his ambitions and escalates them significantly. Trump also accused Democrats of resisting drug price reforms, although former President Joe Biden had made strides in this area.
In 2022, Biden signed legislation allowing Medicare to negotiate the prices of select medications—a move widely hailed as historic.
While Trump’s plan could face major legal challenges and industry pushback, it signals a bold step toward reshaping U.S. pharmaceutical policy in his potential second term.
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