Trump’s Triumphs w BIG Pharma & China Trade Deal

The Ben Ferguson Podcast

iHeartPodcasts

Politics, News, News Commentary

4.9 • 4.7K Ratings

🗓️ 13 May 2025

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

1. Prescription Drug Pricing Reform

The first part of the podcast discusses a policy initiative aimed at reducing the cost of prescription drugs in the United States. Key points include:

"Most Favored Nation" Pricing: The U.S. would pay the lowest price available globally for prescription drugs, matching the lowest price paid by any other country.
Examples of Price Disparities: Our podcast cites stark contrasts in drug prices between the U.S. and countries like Australia, Sweden, and the UK.
Executive Orders: Trump’s administration directed agencies to:
- Prevent foreign countries from undercutting U.S. drug prices.
- Allow Americans to buy drugs directly from manufacturers at the lowest global price.
- Impose rules if pharmaceutical companies fail to comply.
Criticism of the Biden Administration: The text claims that Biden reversed Trump-era reforms and negotiated higher drug prices, allegedly due to influence from pharmaceutical lobbyists.

2. U.S.-China Trade Deal

The second part shifts focus to a trade agreement between the U.S. and China. Highlights include:

Tariff Reductions:
- U.S. tariffs on Chinese goods reduced from 145% to 30%.
- Chinese tariffs on U.S. goods reduced from 125% to 10%.
Negotiation Outcomes:
- China agreed to reduce retaliatory tariffs and open markets to U.S. goods.
- Both countries committed to further discussions on trade and fentanyl trafficking.
Framing: The deal is portrayed as a major win for the U.S., correcting trade imbalances and protecting American jobs and industries.

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Transcript

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0:00.0	You're listening to an IHeart podcast.
0:05.0	Hi, I'm Bob Pittman, chairman and CEO of IHeart Media.
0:08.4	On this week's episode of Math and Magic, I'm sitting down with a one and only Bobby Bones.
0:13.4	We're exploring the power of audio.
0:15.8	Yeah, I don't fit into one specific hole.
0:18.1	I think that is what endeared me to listeners. That's why I'm here now,
0:22.4	because I talk to people that grew up like me, have sensibilities like me, and have loyalties
0:28.4	like me. Listen to math and magic, stories from the frontiers of marketing on the IHeart
0:32.9	radio app, Apple Podcasts, or wherever you get your podcast. In the fall of 1986, Ronald Reagan found himself at the center of a massive scandal
0:42.2	that looked like it might bring down his presidency.
0:45.6	He became known as the Iran-Contra affair.
0:49.2	The things that happened were so bizarre and insane, I can't begin to tell you.
0:55.0	Please do.
1:04.3	To hear the whole story, listen to Fiasco, Iran-Contra on the I-Heart Radio app, Apple Podcasts, or wherever you get your podcasts. Let's say China, China, China, China. China. China. China. You go over to China. China. China. China. China. China. You go over to China. China. China. China. You take China. China. China. China. You're listening to the 47 morning update with Ben Ferguson.
1:27.8	Good Tuesday morning.
1:29.0	Welcome.
1:29.5	It is the 47 morning update.
1:31.5	And my omayas have been one heck of a week for President Trump.
1:35.3	Not only has he secured a UK trade deal that's historic, but now a China trade deal.
1:41.4	Plus the release of an American hostage, a ceasefire with India and Pakistan, and a ceasefire
1:47.9	with the Houthis.
1:48.8	And now we will break down the other big deal as well.
	...

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