President Donald Trump on Sunday evening announced in a Truth Social post that he would sign an executive order that would bring down the price of prescription drugs by 30 to 80 percent for Americans.
Why It Matters
Trump targeted drug prices as part of his effort to bring down costs for Americans and first signed an order that rescinded former President Joe Biden‘s executive order that lowered the cost of prescription drugs. However, he signed an order last month telling the Department of Health and Human Services (HHS) to take new steps to lower drug costs through competition and market forces rather than through presidential mandate.
Trump has made a number of moves in recent weeks to target drug prices, including a request for House Republicans to mandate low drug prices for Medicaid.
What To Know
Trump teased a major announcement on Sunday afternoon on Truth Social, and hours later posted an announcement outlining the implementation of his “Most Favored Nation’s Policy,” effectively flipping the dynamic of drug pricing to favor domestic needs first.
“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were SO MUCH HIGHER IN PRICE THAN THEY WERE IN ANY OTHER NATION, SOMETIMES BEING FIVE TO TEN TIMES MORE EXPENSIVE THAN THE SAME DRUG, MANUFACTURED IN THE EXACT SAME LABORATORY OR PLANT, BY THE SAME COMPANY???” the president wrote.
He continued: “It was always difficult to explain and very embarrassing because, in fact, there was no correct or rightful answer. The Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE. Campaign Contributions can do wonders, but not with me, and not with the Republican Party.
“We are going to do the right thing, something that the Democrats have fought for many years. Therefore, I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history. Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30 percent to 80 percent. They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!”
Trump concluded: “I 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. Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before. Additionally, on top of everything else, the United States will save TRILLIONS OF DOLLARS. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”
Trump previously referred to his “Most Favored Nation” policy when he asked House Republicans to cut prices on prescription drugs, indicating that the policy’s name referred to the way drug companies charge different prices between domestic and foreign markets, often with lower prices for other countries.
Trump’s focus on drug prices has also drawn praise from even his sharpest critics. Billionaire entrepreneur Mark Cuban applauded Trump’s drug price policies last month, saying they could prove “a potential game-changer” and could “save hundreds of billions.”
Newsweek reached out to Cuban by email on Sunday evening for comment, but he did not reply by the time of publication.
What People Are Saying
Conservative activist Charlie Kirk wrote on X: “Just a few hours after teasing his most important Truth Social Post ever, President Trump announced that he’ll be signing an EO Monday morning to lower the cost of prescription drugs 30-80%. Big Pharma’s lobbying of Washington DC has long allowed them to price gouge Americans. No more.”
Anti-Trump influencer Ed Krassenstein wrote on X: “In reality your drug prices will not fall by 30-80%. It’s just another Trump lie. U.S. prices average 2.8× higher than other OECD countries, but only a few dozen infused specialty drugs account for most of that gap; big savings vanish once you move outside that slice.”
He added: “An executive order can steer Medicare or Medicaid payments, but it cannot force manufacturers to cut the list price they charge private insurers, cash-pay patients, pharmacies, or wholesalers without an act of Congress. Trying anyway would be struck down under the Administrative Procedure Act and the Commerce Clause— exactly what killed Trump’s narrower 2020 MFN model in federal court.”
What Happens Next
Trump will sign the executive order at 9 a.m. on Monday, but it remains unclear how he will enforce the order on the private sector.
Update 5/11/25, 8:02 p.m. ET: This article has been updated with additional information, context, and comments.
The post Donald Trump Vows to Reduce Prescription Drug Costs by Up to 80 Percent appeared first on Newsweek.
