So – how seriously should we take Trumps prescription drug announcement today on Truth Social? Trump’s latest announcement about slashing prescription drug prices by 30-80% through a “Most Favored Nation” policy is probably just a lot of hot air – and might be conveniently timed to distract from his Qatar plane controversy. First off – this isn’t a new idea.
Trump tried implementing the same policy during his first term in 2020 through an executive order. How’d that work out? It never happened. The policy got tied up in lawsuits from pharmaceutical companies and was ultimately abandoned. The basic idea sounds simple enough – make Medicare pay no more for drugs than what other wealthy countries pay.
Americans currently shell out 2.78 times more for prescription drugs than people in 33 other nations. For brand-name drugs, it’s even worse – we pay 4.22 times more. But there’s a massive gap between announcing a policy and actually implementing it. The pharmaceutical industry has enormous lobbying power and will fight this tooth and nail – just like they did last time.
What’s particularly suspicious about this announcement is the timing. It comes just as Trump is facing serious criticism for potentially accepting a $400 million luxury Boeing 747 as a gift from Qatar – a move ethics experts are calling a blatant violation of the Constitution’s emoluments clause. Former ambassador Norm Eisen didn’t mince words: “This rule that presidents cannot take the equivalent of 400 million bucks in cash from a foreign government was so important, that it’s the only ethics and conflicts rule that was put directly in the Constitution.”Meanwhile – the Biden administration’s Inflation Reduction Act has already established a framework for Medicare drug price negotiations that’s actually producing results.
The first round of negotiated prices for 10 drugs will take effect in 2026, saving an estimated $6 billion. Trump might just be trying to position himself to take credit for these savings. If Trump were truly serious about lowering drug prices, he would have achieved something meaningful during his first term – or he’d be embracing and expanding the existing Medicare negotiation program.
Instead, he’s recycling a failed policy while the Trump Organization simultaneously strikes deals for luxury golf resorts in Qatar. So while Americans struggle to afford their medications, Trump’s dangling an old promise in front of voters with one hand while possibly accepting a “flying palace” with the other. It’s not about lowering drug prices – it’s about changing the conversation.