Trump Asks Drugmakers to Voluntarily Lower US Prices, but Will They Comply?

Drug companies were nervously awaiting President Donald Trump's announcement on pharmaceutical tariffs, but instead, he signed a "better than feared" executive order on Monday. According to The New York Times, Trump wants US drug companies to voluntarily reduce US prices. Despite having no real legal authority to enact this, the executive order did say that if drugmakers do not lower US prices, the Trump administration would consider imposing regulations or importing drugs from other countries. On Sunday, Trump stated in a Truth Social post that he would employ a "most favored nation's policy," in which the US will pay the same price as the nation that pays the lowest price. This caused pharmaceutical stocks to go up on Monday morning. "I'm not knocking the drug companies," Trump said, per The Times. "I'm really more knocking the countries than the drug companies." With this in mind, the executive order also asks federal agencies to look into why European countries have lower price ... Read full article.