By Jemimah Wellington, JKNewsMedia Reporter
SWEEPING CUTS to prescription drug prices are on the table under a new executive order aimed at slashing costs by up to 80 percent, according to United States President Donald Trump.
The announcement, delivered via his social media, outlined plans to equalise American pharmaceutical costs with the lowest prices paid internationally, invoking what he called a “most favoured nation” policy.
President Trump said the order—scheduled for signing at 9.00am Washington time on Monday (t0day) would be one of the most significant in American history.
He claimed prices would fall “almost immediately,” as the United States would cease overpaying compared to other countries.
The measure, however, is expected to face fierce opposition from the pharmaceutical industry.
The president’s renewed push arrives after a previously failed effort during his first term to make life-saving medications more affordable for low-income Americans.
That earlier plan, which targeted drugs such as insulin and EpiPens, never took effect due to political and legal barriers.
At the time, Trump proposed tying U.S. drug prices to lower international rates for products under the Medicare programme, which insures senior citizens.
This latest initiative follows days of teasing an “earth-shattering” revelation.
Reports from U.S. media signalled that the move would target the high cost of pharmaceuticals—an enduring issue in the American healthcare system, where drug pricing remains largely unregulated at the federal level.
Without a national framework to set prices, pharmaceutical firms exert considerable power over market rates, resulting in some of the world’s highest drug costs.
Trump also levelled blame at the Democrats, accusing them of obstructing attempts to reduce prices. Yet drug pricing reform has long been a central concern for political leaders across party lines.
His predecessor, President Joe Biden, signed a landmark 2022 law enabling Medicare to negotiate the price of select drugs, a policy widely seen as a breakthrough in controlling healthcare costs.
The precise mechanisms of Trump’s executive order remain unclear, and implementation could be complicated by resistance from the pharmaceutical lobby and regulatory constraints.
Nonetheless, the president insisted that this move would restore fairness for American consumers long burdened by inflated costs.
