President Donald Trump told reporters in the Oval Office Monday that his Most Favored Nation policy, which aims to cut the price of prescription drugs in the U.S., will lower drug prices by 1400% to 1500%.
“We’re talking about where a product would cost $80 in Germany and $1300 here. And we’re not going to do that. We were subsidizing the entire world and we’re not doing that anymore,” Trump said.
MFN aims to have other industrialized countries pay more for medications which would allow their prices to decrease in the U.S.
The president said that if other countries didn’t agree to work with the U.S. to pay more for drugs, he would retaliate with tariffs.
Trump added that pharmaceutical companies have been cooperating with the policy because “they know [the status quo] is unfair.”
The president noted that MFN would be a boon for Republicans. “You know, if I pull that off, there’s no way a Republican will lose an election.”
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