President Donald Trump has signed a sweeping executive order setting a 30-day deadline for drugmakers to lower the cost of prescription drugs in the U.S. or face new limits over what the government will pay. The order the Republican president signed Monday calls on the health department to broker new price tags for drugs. If a deal is not reached, a new rule will kick in tying the price of what the U.S. pays for medications to lower prices paid by other countries. Public health agency leaders will start meeting with drug companies to offer new prices over the next month. Drugmakers argue threats to their profits could impact research to develop new drugs.
President Trump is cheering the agreement between the U.S. and China to suspend reciprocal tariffs.
Following weekend trade talks between the two countries, the president said China will open up its market to American businesses and suspend trade barriers.
He said the reduced tariff rates don’t include tariffs on autos, steel and aluminum.
The president also said he’ll likely speak soon with China’s leader Xi Jinping.
President Trump announced his new executive order mandating Americans can no longer be charged more than people in other developed countries for the same drug. See more on Salem News Channel.
American Bitcoin, a new bitcoin miner backed by President Trump’s two eldest sons, said it will list on the Nasdaq via an all-stock merger with Gryphon Digital Mining. See more on Salem News Channel.
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