Context:

President Donald Trump announced his intention to sign an executive order aimed at drastically reducing the cost of prescription drugs in the United States by 30% to 80%. This initiative is part of a broader effort to address the longstanding issue of high drug prices compared to other countries, which Trump describes as unfair to American consumers. The plan includes implementing a 'Most Favored Nation' policy to ensure the U.S. pays the same price as the lowest-paying nation globally. Trump emphasizes that this move will bring fairness to American healthcare costs and potentially save the country trillions of dollars. He also claims that pharmaceutical companies have unfairly burdened American consumers with research and development costs, a practice he intends to change with this order.

Dive Deeper:

• President Trump plans to sign an executive order to lower prescription drug prices in the U.S. by 30% to 80%, with immediate effect, aiming to address the disparity in drug costs between the U.S. and other countries.

• The executive order will implement a 'Most Favored Nation' policy, ensuring that the U.S. pays the same price for drugs as the nation that pays the lowest price globally, which Trump argues will bring fairness to American consumers.

• Trump criticizes pharmaceutical companies for attributing high drug prices to research and development costs, which he claims have been unfairly shouldered by American consumers alone.

• The reduction in drug prices is portrayed as a significant achievement, with Trump stating it will correct a long-standing issue and save the United States trillions of dollars.

• The announcement was made via Trump's social media platform, Truth Social, where he expressed the embarrassment of explaining the high U.S. drug prices compared to other nations, suggesting the executive order will rectify this situation.