US President Trump announced a 59% reduction in the price of prescription drugs.
Reuters reported that Trump posted on the Social media platform "Truth Social" on Monday (May 12th), saying: "Drug prices will be reduced by 59%." But he has not disclosed the specific details of the plan to lower drug prices yet.
He also indicated that the prices of gasoline, energy, groceries, etc. would all be reduced.
Trump announced on Sunday (the 11th) a reduction in the prices of prescription drugs in the United States, mangregating that Americans should not pay more for drugs than in other high-income countries. He plans to sign the executive order in Washington at 9 a.m. on Monday (9 p.m. Singapore time).
It was reported that global pharmaceutical stock prices declined on Monday morning.
On June 30th, Raphael Bostic, the president of the Atlanta Federal Reserve Bank, stated that tariffs might have a gradual impact on prices rather than a one-time shock, which could lead to more persistent upward pressure on inflation.
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