Can Trump Cut Prescription Prices?
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 23 May 2025
⏱️ 32 minutes
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Summary
Donald Trump has promised to slash the US’s high prescription medication prices by as much as 80 per cent with an executive order that seeks to force other countries to pay more for their medicines.“Americans will no longer be forced to pay almost three times more for the exact same medicines, often made in the exact same factories,” the order said. “As the largest purchaser of pharmaceuticals, Americans should get the best deal.”
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Transcript
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| 0:00.0 | Heda, it's your big McDonald's hunger calling |
| 0:03.1 | and it's not just any kind of hunger. |
| 0:04.9 | It's the kind that calls for big arch. |
| 0:07.0 | Start with juicy beef, cheddar cheese and big arch sauce. |
| 0:10.3 | Oh, and don't forget those crispy onions. |
| 0:12.6 | Hungry? |
| 0:13.3 | You are now. |
| 0:16.7 | Saved from 11 a.m., subject to availability. |
| 0:18.7 | Price and participation may vary. |
| 0:20.4 | Donald Trump signed an executive order this week, accusing the pharmaceutical industry of overcharging Americans for prescription drugs. |
| 0:29.0 | The fact sheet on the White House website describes the issue as another example of other countries free-loading off Americans, |
| 0:37.1 | who pay up covering the cost of R&D |
| 0:40.0 | and testing, while everyone else benefits from lower drug prices. |
| 0:44.9 | The order doesn't describe how the US government plans on forcing companies to lower their |
| 0:50.3 | prices other than to threaten additional aggressive action. |
| 0:54.7 | The order calls on the Health Department, led by Robert F. Kennedy Jr., to communicate |
| 1:00.4 | price targets to pharmaceutical companies, which has worried a few analysts that Trump plans |
| 1:06.7 | to impose price controls on medications, tying the price that Americans pay to the lowest |
| 1:12.4 | prices paid in comparably developed countries. |
| 1:15.4 | There is a 4,000-year history of well-meaning governments imposing price controls, but no successful |
| 1:23.3 | examples, as market prices are needed to solve the economic problem of how to most effectively |
| 1:29.9 | allocate scarce resources in a world of unlimited wants and needs. |
... |
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