Trump Signs Long-Shot Executive Order He Claims Will Slash Drug Prices

Prescription drug costs in the United States have been out of control for ages, and it’s only getting worse. But after a weekend rant about the U.S.’s “embarrassing” drug prices, President Donald Trump signed an expansive executive order he claimed would slash drug prices nationwide by reviving a controversial policy from his first term. On Sunday, Trump announced his plans in a lengthy post on Truth Social, writing that the U.S.’s elevated prescription drug costs were “always very difficult to explain and very embarrassing”. According to the U.S. Department of Health and Human Services, prescription drug costs increased by 15.2% between January 2022 and January 2023. And last year, a RAND report found that U.S. prescription drug prices are about 2.78 times higher than those in 33 other nations. In his post, Trump stated that his new executive order will “almost immediately” reduce drug costs by 30 to 80 percent and save the U.S. “TRILLIONS OF DOLLARS”. “They will rise throughout th ... Read full article.