On Sunday, President Trump announced he would sign an executive order on Monday aimed at lowering prescription drug prices in the U.S. to match the lowest prices found in other countries.
The U.S. is recognized for its higher costs for prescription medications compared to other developed nations. Trump’s “most favorable country” policy seeks to ensure that Americans pay the same prices as those in the country that offers the lowest rates globally.
“Our nation will finally be treated fairly, and citizens will see healthcare expenses drop dramatically—numbers they haven’t even imagined,” Trump stated, adding that this policy could lead to savings of trillions for the U.S.
He plans to sign the executive order at the White House at 9 AM on Monday, referring to it as “one of the most consequential executive orders in our country’s history.”
In a social media post, Trump expressed optimism that the new order would cause prescription drug prices to plummet by 30% to 80% almost immediately, ensuring equitable pricing across the globe for the first time in years.
It was reported last week that the president was preparing to sign an executive order directing aides to implement this “most preferred country” initiative as part of the Medicare program’s drug choice.
At that time, there were indications that details might change, and the president had yet to personally approve the initiative.
