President Donald Trump announced a sweeping overhaul of prescription drug pricing policies on May 12, while sharing an unconventional anecdote about a prominent associate’s experience with weight management medication purchased abroad.
Speaking from the White House Roosevelt Room, Trump revealed an executive order designed to dramatically reduce American pharmaceutical costs—potentially by as much as 80 percent—while simultaneously imposing stricter export regulations and additional tariffs on international drug manufacturers.
The President cited a personal conversation as the catalyst for this policy initiative. According to Trump, he received a call from “a highly neurotic, brilliant businessman” who was “seriously overweight” and currently using injectable weight management medication. This unnamed but apparently recognizable business figure reportedly contacted Trump while visiting London.
“He called me up and said, ‘President,’ he calls me, he used to call me Donald… So that’s a nice respect. But he’s a rough guy. Smart guy, very successful, very rich,” Trump recounted. The businessman allegedly questioned why the same weight loss injection cost him $88 in London compared to $1,300 in New York.
This significant price differential prompted Trump to question pharmaceutical industry representatives about the disparity. He dismissed the standard industry explanation of research and development costs, arguing: “Other countries should pay research and development, too. It’s for their benefit… so for the first time in many years, we’ll slash the cost of prescription drugs, and we will bring fairness to America.”
The executive order mandates that pharmaceutical companies charge American consumers prices equivalent to those paid by the lowest-paying developed nations—or face consequences. Additionally, Trump has directed the Department of Commerce and Office of the US Trade Representative to investigate foreign countries that he claims “extort drug companies by blocking their products” unless manufacturers accept substantially reduced pricing.
Characterizing these practices as “discriminatory” and unfairly burdening American patients, Trump threatened to restrict imports of non-pharmaceutical products from countries that refuse to adjust their medication pricing structures. He specifically mentioned European Union nations as targets for potential action.
“The biggest thing we’re going to do is we’re going to tell those countries, like those represented by the European Union, that, you know, that game is up. Sorry,” Trump stated. “And if they want to get cute, then they don’t have to sell cars into the United States anymore.”
The announcement preceded the President’s departure for a four-day diplomatic tour of Saudi Arabia, Qatar, and the United Arab Emirates. Reports indicate Trump may receive an extraordinary diplomatic gift during this visit—a customized Boeing 747-8 jumbo jet valued at approximately $400 million from Qatar’s royal family, representing an unprecedented offering from a foreign government to a U.S. president.