Trump vows 30–80% cut in US drug prices in ‘most consequential’ executive order

He criticised pharmaceutical companies for blaming the disparity on research and development costs, arguing that American consumers have been unfairly burdened for years.

“It was always difficult to explain and very embarrassing,” Trump said. “The pharmaceutical companies would say, for years, that it was research and development costs, all of which were borne by the ‘suckers’ of America, alone.”

The president said the new policy would implement a “Most Favoured Nation” pricing model, ensuring that the U.S. pays no more than the lowest price charged for the same medication anywhere in the world. He claimed the move would “bring fairness to America” and would also lead to higher drug prices in other countries to close the global pricing gap.

The announcement follows a recent Politico report suggesting that Trump is considering reviving a proposal from his previous term, which aimed to tie U.S. drug prices to lower rates paid by other countries.

While details of the executive order are expected to be released soon, Trump said the policy marks a long-overdue correction to what he described as a “rigged system.”