Trump made the announcement in a social media post, saying Americans should no longer pay more for the same drugs that cost far less in other countries. He plans to sign the order at 9 a.m. on Monday in Washington.
“I will sign an order to make sure the U.S. pays the same price for drugs as the country that pays the least anywhere in the world,” Trump posted. “Prices could fall by 30% to 80% here at home.”
The announcement caused a shake-up in global markets. Drug company stocks in Europe and Asia fell sharply as investors worried about how the world’s biggest pharmaceutical market might change. Major companies like Novo Nordisk in Denmark, Sanofi in France, and AstraZeneca in the UK all saw their share prices drop.
In Asia, Japan’s Chugai Pharmaceutical fell by 11% — its biggest drop in 14 years — while other big names like Daiichi Sankyo and Takeda also lost value. Chinese companies were hit too, with BeiGene and Jiangsu Hengrui both seeing major losses.
Although Trump gave little detail on how the order would work, the idea is not entirely new. During his first term, he tried a similar plan through Medicare, the government health program for older Americans. That plan was blocked in court, and his administration didn’t get the chance to fully roll it out.
Trump says the current system is unfair. He argues that Americans are “suckers,” paying more so other countries can pay less. He believes his new order will bring fairness to U.S. consumers, even if it means prices go up elsewhere.
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