President Trump says he'll sign an executive order aimed at lowering the cost of some prescription medications, reviving a policy effort from his first term. The order, which Trump says will be signed Monday, would instruct the Department of Health and Human Services to tie certain Medicare drug prices to the lowest price paid by other nations, the AP reports. Or, in his terms, Trump said on Truth Social that he "will be instituting a MOST FAVORED NATION'S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World."
The proposal focuses on drugs covered by Medicare Part B—typically those administered in a doctor's office, like cancer infusions—not prescriptions filled at pharmacies. While this could save the government money, the "TRILLIONS OF DOLLARS" in savings Trump claimed in his post may be an overestimate. "Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before," Trump's post promised.
Medicare covers about 70 million older Americans, and although both parties have criticized the US's high drug prices, Congress has never passed a sweeping fix. Trump tried a similar policy before, signing an executive order seeking to implement the "most favored nation" policy near the end of his first term, but amid legal pushback from the pharmaceutical industry it was blocked by the courts and later rescinded during the Biden administration, Politico reports. The move faces staunch opposition from the drug industry, which argues the change would undercut innovation and allow foreign countries to dictate US drug prices. (This content was created with the help of AI. Read our AI policy.)
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