A Familiar Promise with New Momentum
President Donald Trump announced he will sign an executive order Monday aimed at slashing certain prescription drug prices—a revival of a controversial plan from his first term.
If implemented, the order could reduce prices for some medications by 30% to 80%, though experts caution its impact would be limited to specific treatments covered under Medicare Part B.
“Most Favored Nation” Policy Returns
Trump’s proposal centers on a “Most Favored Nation’s Policy,” tying what the U.S. pays for certain drugs to the lowest prices paid by other wealthy nations.
“Our country will finally be treated fairly,” Trump wrote on Truth Social.
“Our citizens’ healthcare costs will be reduced by numbers never even thought of before.”
Focus on Medicare Part B Drugs
The executive order would apply mainly to medications administered in doctors’ offices, such as cancer infusions and specialty injectables—not drugs filled at pharmacies. In 2021, Medicare Part B drug spending topped $33 billion, with Americans often paying far more than patients in comparable countries.
Political Roadblocks and Industry Pushback
Trump attempted a similar measure in 2020, but it was blocked by the courts after opposition from the pharmaceutical industry, which argued that the policy would undermine innovation and give foreign governments too much influence over U.S. drug pricing. Critics also questioned Trump’s claim that the plan would save “trillions of dollars,” calling it an overstatement.
Tough Talk on Big Pharma
Trump doubled down on his long-standing criticism of drug companies, accusing them of exploiting American consumers. “They said the high prices were about research and development—but the suckers of America paid for it alone,” he posted. He also dismissed the influence of pharmaceutical lobbyists.
“Campaign contributions can do wonders, but not with me.”
A Lingering Issue, a Renewed Fight
Despite bipartisan frustration over the high cost of drugs in the U.S., Congress has repeatedly failed to pass sweeping reform. Trump’s revived executive order may not deliver immediate relief, but it positions him once again as a populist challenger to Big Pharma heading into the 2024 election cycle.
Keep up with this developing story with us on Que Onda Magazine.