In a fiery Oval Office address on Monday, former U.S. President Donald Trump accused the European Union of being “nastier than China” while unveiling a new executive order aimed at slashing prescription drug prices in the United States.
Minutes before signing the order, Trump criticized the EU’s healthcare and trade policies, claiming that the bloc has long exploited the U.S. by forcing higher pharmaceutical costs and unfairly targeting American firms with lawsuits and regulatory pressure.
“They are suing all our companies… They have influenced judges,” Trump stated. “The EU has been brutal on drug prices and the most difficult in negotiations. We’ve been subsidizing their healthcare system for decades.”
The executive order, part of Trump’s renewed pharmaceutical policy push, aims to reduce U.S. drug prices by up to 59%, according to the administration. The policy will reportedly leverage the concept of “most-favored-nation” pricing, ensuring the U.S. pays no more than other developed countries for key medicines.
On Sunday, ahead of the formal announcement, Trump posted on Truth Social:
“DRUG PRICES TO BE CUT BY 59%, PLUS! Gasoline, Energy, Groceries, and all other costs, DOWN. NO INFLATION!!! LOVE, DJT.”
The move signals Trump’s continued focus on cost-of-living issues ahead of the upcoming elections, linking healthcare affordability with broader inflation concerns in the U.S. economy.
While the full scope of the executive order is yet to be released, experts say it could have sweeping effects on pharmaceutical companies and international drug pricing dynamics.
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