President Donald Trump confirmed on Saturday that prescription drug prices are now plummeting at levels never before seen in American history. This massive price drop is happening because he invoked favored nations status for the United States. This policy ends the global freeloading that has made Americans pay outrageous prices for years.
Trump claimed in his post that prices are falling “500%, 600%, 700%, and more.” He said that no previous president has come close to achieving similar results for patients. The President wrote that this is also the answer to “much less expensive, and far better, HEALTHCARE!”
The President told Republicans they must aggressively talk about the success of the policy. He said it represents “a revolution in medicine, the biggest and most important event, EVER.”
Trump believes that if Republicans highlight this victory, they “should win the Midterm Elections in RECORD NUMBERS.” He ended his post with a strong directive: “I AM THE AFFORDABILITY PRESIDENT. TALK LOUDLY AND PROUDLY!”
Trump’s Executive Order, signed in May, was designed to stop foreign nations from getting a free ride on American innovation. The order states that Americans fund “around three quarters of global pharmaceutical profits.”
Drug makers used price markups on American consumers to subsidize deep discounts overseas. Trump insisted that Americans should not pay “almost three times more for the exact same medicines” as other developed nations.
The policy directs the administration to take immediate steps to end this global freeloading. It ensures Americans “must therefore have access to the most-favored-nation price” for prescription drugs. The order warns that the administration will take “additional aggressive action” if companies do not comply with the new rule.