Trump says he pressures France to raise drug prices with tariffs
Speaking to Republican lawmakers at the Kennedy Center in Washington, DC, Trump outlined what he described as tough negotiations with French President Emmanuel Macron over differences in drug pricing between the United States and France.
Trump said he argued that France needed to lift its prices because Americans are paying "14 times" more than French consumers for the same medications. According to his account, Macron initially rejected the demand.
Trump said he then delivered a warning, telling the French leader that refusal would result in a broad 25% tariff on French goods entering the US market, including products such as wine and champagne. He said he made clear that he was willing to follow through, even justifying the move "even for national security," while adding that the tariff he proposed was "42 times more expensive" than the price increase he was seeking.
He claimed that following this pressure, France agreed to raise drug prices significantly, with costs rising from $10 per pill to $30, while prices in the United States fell.
After Trump’s comments, there was no immediate response from Macron or from French government officials, according to reports.
Trump also said that similar tactics proved effective in talks with other countries. He claimed that, on average, foreign leaders agreed to sharply raise their drug prices within "3.2 minutes" of being threatened with tariffs, quoting them as saying: "We would be honored to quadruple our drug prices, if that's what you like."
The remarks come as Trump pushes his so-called Most Favored Nation policy, which seeks to reduce prescription drug costs in the US by linking Medicare payments to the lowest prices charged by drug companies in other developed countries. Trump argues that Americans are effectively covering the cost of cheaper medicine abroad, referring to the practice as "global freeloading."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
