On the evening of May 11th local time, US President Trump stated on social media that he would sign an executive order at 9 am the next day (9 pm Beijing time on the 12th) with the goal of immediately reducing US prescription drug and medicine prices by 30% to 80%.Image source: Truth Social

Trump believes that drug prices in the United States are much higher than in other countries, and the price of the same drug in the United States may be several times that of other countries. This policy mainly includes the implementation of the "most favored nation policy", allowing the United States to enjoy the same price treatment as the countries with the lowest drug prices in the world, and the US government will renegotiate prices with pharmaceutical companies.

If this policy can be implemented, it will greatly reduce the medical burden on the American people, especially those with chronic diseases and the elderly, who will no longer have to worry about expensive drug prices. For the US government, it can also reduce healthcare spending and release more fiscal funds to invest in other areas. From a macroeconomic perspective, reduced medical spending and increased disposable income will stimulate the prosperity of the domestic consumer market and drive US economic growth.

However, the implementation of the policy faces many challenges. It is difficult to determine the standard and range of the lowest global drug prices, and it is not easy to negotiate with pharmaceutical companies. The structure of US drug prices is complex, and it is difficult to achieve a significant price reduction and maintain it for a long time. But no matter what the final implementation effect is, it has pressed the start button for the reform of the US pharmaceutical market and the reshaping of the global drug price system.

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