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At a White House press conference last month, President Donald Trump announced a breakthrough on lower drug prices and promised he would take action against European countries who haven’t been paying their fair share for the medicines Americans innovate and invent.
“That’s why my administration is also taking historic action to investigate the unfair and discriminatory trade practices of other countries that extort our pharmaceutical makers to shift costs onto the American consumer,” Trump said.
The Financial Times is now reporting that action is coming soon:
The imminent investigation, which would come under Section 301 of the Trade Act of 1974, would consider whether any US trading partners are underpaying for drugs, said three people familiar with the matter.
Trump has repeatedly complained that other countries pay less than the US for medicines and signalled he would take trade actions against nations that refused to “equalise”.
Forcing European countries to drop their price controls through strong trade agreements will lower our trade deficit while keeping America ahead of China on inventing new medicines.
If we just imported Europe’s socialist price controls like Obama, Biden, and Pelosi wanted, it would have destroyed our drug industry and put cures for devastating diseases out of reach for many patients.
As Center for Medicare and Medicaid Services Deputy Administrator Chris Klomp stated, “And that might have worked actually for just a little bit, but very quickly it would have utterly destroyed innovation in pharmaceuticals. It would have destroyed American primacy in building life-saving medications. There are nearly 20,000 known diseases on the planet. We have treatments or cures for far fewer than 10% of them. So that would have been a bad strategy, and it would have limited access to those who need those medications the most.”
If we want to get serious about lowering drug prices and maintain American superiority in drug development, we need to stop playing by the globalists’ rules. In his first term, President Trump prioritized American workers by renegotiating unfavorable trade deals and pressuring NATO to fulfill its financial obligations and pay their fair share.
America doesn’t need to copy failed systems—we need to lead. Instead of changing our prices to match socialist states, Trump is demanding that wealthy European nations pay their fair share. If anyone should be matching prices, it’s them, not us.
By making other countries pay their fair share for their drugs, new trade deals could offer a more comprehensive approach to lowering the prices for Americans.
“Our trade policy will prioritize that foreign countries pay their fair share for U.S.-manufactured drugs, so our drug companies have greater financial resources to accelerate development of new cures,” Trump said.
Americans deserve affordable medicine, but we also deserve the best medicine in the world. We won’t get that by copying socialist systems that ration care and stifle innovation. We’ll get it by unleashing American ingenuity, holding foreign freeloaders accountable, and demanding a system that finally puts Americans first.
The post President Trump to Investigate European Trade Partners for Not Paying Their Fair Share for American Medicines appeared first on Breitbart.
