President Trump signed an executive order Sunday that he says lowers prescription drug prices “by putting America first,” but experts said the move is unlikely to have any immediate impact.
President Donald Trump’s son-in-law and senior advisor Jared Kushner told CNBC’s “Squawk Box” on Tuesday that he supports the president’s plan to cut drug prices and argued that the U.S. shouldn’t pay more than other European countries for the same treatments.
President Donald Trump’s senior advisor Jared Kushner told CNBC on Tuesday he supports the president’s plan to cut drug prices, arguing that the U.S. shouldn’t pay more than other European countries for the same treatments.
The comments by the president’s son-in-law came two days after Trump announced that he signed an executive order aiming to lower drug prices.
The president said Sunday his “Most Favored Nation order” will guarantee the U.S. receives the same, lower drug prices that the pharmaceutical industry gives to other countries.
The new executive order repeals the original and expands the drugs covered by Trump’s proposed “most favored nations” pricing scheme to include both Medicare parts B and D. The idea is that Medicare would refuse to pay more for drugs than the lower prices paid by other developed nations.
Kushner said the order is designed to compel drugmakers to make their pricing policies fairer across the globe.
“Right now, there’s a disproportionate burden being shared by America,” Kushner said on “Squawk Box.” “If you’re the largest customer from somebody, you should be getting the best price, not the worst price.”