Unable to land the big deal with Congress to curb drug costs, President Donald Trump moved on his own, signing four executive orders that allow imports of cheaper medicines as well as other measures that could have some election-year appeal. (July 24)
- Thank you, Mr. President.
DONALD TRUMP: That's access to affordable life-saving medication. Thank you all.
- Thank you.
DONALD TRUMP: So today, I'm taking a bold and historic, very dramatic action to reduce the price of prescription drugs for American patients and American seniors. Previous administrations did nothing, absolutely nothing, as drug lobbyists, special interests, and foreign countries fairly ripped off our citizens. We've been waiting for Congress to take action for many decades to reduce drug prices for more than-- more than just a small handful of people, and I'm unwilling to wait any longer.
Therefore, today, I'm signing four sweeping executive orders that will lead to massive reduction in drug costs, massive. They represent the most far-reaching prescription drug reforms ever issued by a president, nothing even close. We pay for all of the research at all of the development and foreign countries pay absolutely nothing. And our consumer gets charged. This has been going on for decades. Foreign nations have paid vastly less for the exact same drug again, in the exact same box from the exact same plant, from the exact same company.
In certain countries-- I won't name them, they're all allies, right? They call them allies. I call them so-called allies. But a pill that would cost $1 could be $7, $8 in our country, same exact pill. We are bearing the entire cost of all of this. They're bearing none. They say this is what we're going to pay. In some cases, it's a socialist country. So we're paying to reduce drug prices in a socialist country. How does that work? How does that work?