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Trump announces he'll sign executive order that aims to cut drug prices
- k310 1y agoUSNEWS: [0] > Under the planned order, the federal government would tie what it pays pharmaceutical companies for those drugs to the price paid by a group of other, economically advanced countries — the so-called “most favored nation" approach. > The proposal will face fierce opposition from the pharmaceutical industry. > It was a rule that Trump tried to adopt during his first term, but could never get through. He signed a similar executive order in the final weeks of his presidency, but a court order later blocked the rule from going into effect under the Biden administration. AXIOS [1] > Worth noting: Trump earlier this year rescinded a similar executive order from former President Biden that also aimed to lower prescription drug costs. > Zoom out: Trump is expected to impose tariffs on pharmaceuticals produced overseas in the coming weeks. Experts say such a policy could increase drug costs and exacerbate shortages. [0] https://www.usnews.com/news/health-news/articles/2025-05-11/trump-promises-to-order-that-the-us-pay-only-the-price-other-nations-do-for-some-drugs https://www.usnews.com/news/health-news/articles/2025-05-11/... [1] https://www.axios.com/2025/04/16/trump-drug-pricing-order-costs https://www.axios.com/2025/04/16/trump-drug-pricing-order-co...