President Donald Trump made a major announcement regarding a new sweeping executive order aimed at significantly reducing prescription drug prices for Americans on Sunday.
In a post on Truth Social, he revealed plans to slash prices by as much as 80%, a move he characterized as essential for addressing the long-standing issue of exorbitant drug costs in the United States compared to other countries.
Trump’s initiative is rooted in a proposed “favored nation” policy, which would ensure that American consumers pay the same price for medications as the country with the lowest prices globally.
This announcement resonates with many Americans who have expressed frustration over the disparity in pricing, where they often face costs that are five to ten times higher than those in other nations for identical medications produced by the same pharmaceutical companies.
In his statement, Trump emphasized the need for fairness in the healthcare system, declaring, “Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%.”
President Trump is signing a historic Executive Order to significantly reduce drug prices for Americans.
This EO will help bypass costly middlemen and bring the prices Americans pay for prescription drugs in line with those paid by other nations.
Other Presidents merely talked… pic.twitter.com/KTD37JonpH
— Karoline Leavitt (@PressSec) May 12, 2025
He portrayed this action as not only a means to alleviate the financial burden on U.S. citizens but also as a measure that could lead to substantial savings for the country as a whole.
The executive order aims to level the playing field, addressing what he described as an unfair practice that has persisted for far too long.
Trump pointed out that the pharmaceutical industry has historically justified high prices by citing research and development costs, but he challenged this narrative, suggesting that American consumers have been unfairly burdened.
Trump’s announcement follows recent discussions with Canadian Prime Minister Mark Carney, during which he hinted at an important forthcoming initiative.
He described the executive order as a pivotal moment, emphasizing that it would address a critical issue affecting millions of Americans.
By implementing these changes, Trump aims to foster a more equitable pharmaceutical market and reduce healthcare costs that have long been a source of concern for voters.
As the administration prepares to enact this executive order, it remains to be seen how pharmaceutical companies will respond and what implications this policy will have for drug pricing both in the U.S. and abroad.
The president’s commitment to lowering drug costs reflects a broader goal to enhance healthcare affordability, a significant concern for many American families.
In the coming days, Trump is expected to provide additional details about the full implementation of this policy, and the administration will likely face scrutiny regarding its effectiveness and the potential impact on the pharmaceutical industry.
This new executive order represents a bold step in reshaping the landscape of prescription drug pricing, with the potential to deliver profound changes in how Americans access and afford their medications.
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