President Trump Issues First-Ever Executive Order Targeting Big Pharma Reform in U.S. History

WASHINGTON — In a sweeping press conference at the White House on Tuesday, President Donald J. Trump announced a series of international and domestic initiatives that, taken together, he claimed would make the world “safer than it was a week ago.” Speaking from the podium with characteristic confidence, Trump outlined a series of achievements, ranging from a ceasefire between India and Pakistan to a historic executive order aimed at reducing prescription drug prices by up to 90 percent.

The president opened by describing what he called a “complete and immediate ceasefire” between India and Pakistan, brokered by the United States after four days of intense cross-border fighting between the two nuclear-armed neighbors. “Millions could have died,” Trump said, emphasizing the urgency of the intervention. While India’s foreign minister accused Pakistan of violating the truce on the evening it was signed, Pakistan blamed India for the breach. Trump credited his use of trade as leverage, stating, “If you want trade, you get peace. No peace, no trade.” Negotiations with India are ongoing, and talks with Pakistan are expected to follow. He praised Vice President J.D. Vance and Secretary of State Marco Rubio for their roles, while noting that India had reported over 100 militant deaths and Pakistan cited 31 civilian casualties.

Trump also announced that Yemen’s Houthi rebels had agreed to halt attacks on American vessels after 50 days of assaults in the Red Sea. “They’ve said they will no longer attack the United States,” Trump declared. “I trust that promise.” The agreement, mediated by Oman, affects American but not Israeli ships. The Houthi campaign, which began in October 2023, disrupted an estimated 15 percent of global maritime trade and caused a 90 percent drop in Red Sea container traffic during the peak months of late 2023 and early 2024. Trump praised the rebels’ “resilience under fire” and insisted the United States would respect the ceasefire terms.

On relations with China, Trump revealed that both countries had agreed to a temporary tariff reduction following negotiations in Geneva. The tariffs imposed since April 2 would be capped at 10 percent for 90 days, although levies on automobiles, steel, aluminum, and pharmaceuticals would remain unchanged. Trump said the move was not intended to harm China, which he said was already grappling with factory closures and social unrest. He criticized the Biden administration for halting a $50 billion agricultural trade agreement and claimed that Beijing had now pledged to eliminate non-tariff barriers and curb fentanyl exports. “Fentanyl enters through our southern border, and it comes primarily from China,” he said. Trump also revisited a failed 2019 deal in which China had agreed to open its markets to American companies, saying the collapse of that agreement had been “a missed opportunity for real U.S.-China integration.” Now, he said, China has agreed to reopen its markets fully—a move he described as beneficial for both jobs and peace.

The president then turned to the release of American hostage Eitan Alexander, whom he said would be freed within hours. Alexander, believed to be the last surviving U.S. citizen held by Hamas since his abduction in October 2019, is being freed through the efforts of negotiator Steve Witkoff. Trump also mentioned meeting with 10 Americans who had been released earlier and said 20 hostages remained alive, with the remains of 39 others still unrecovered. “For many families, retrieving a loved one’s remains is just as sacred as bringing them home alive,” he said.

Another announcement that drew controversy was Trump’s decision to accept white South African farmers—Afrikaners—as refugees, citing ongoing violence against them. “They are being slaughtered,” Trump said. “Race should not dictate our response to human suffering.” He criticized what he described as media silence on the issue and warned that he may not attend next week’s G20 summit if the South African government fails to address the crisis. Meanwhile, the administration has halted refugee admissions from countries like Sudan and the Democratic Republic of Congo, prompting criticism of a selective humanitarian approach.

Trump also defended the Pentagon’s acceptance of a $400 million luxury Boeing 747-8 jet from Qatar, meant to replace the aging Air Force One fleet. “The current planes are 40 years old and absurdly expensive to maintain,” he said. Trump dismissed criticism that the jet constituted a personal gift, saying it would be placed on display at his future presidential library, not used for private travel. “This is a donation to the Department of Defense, and rejecting it would be foolish,” he said, calling media skepticism “shameful.”

But the centerpiece of the press conference was the unveiling of a sweeping executive order designed to drastically lower prescription drug prices in the United States. “This is the most significant healthcare action in American history,” Trump declared. The policy, based on the “most favored nation” rule, ties U.S. prices to the lowest prices paid for the same medications in other developed countries. Trump pointed to stark disparities: a breast cancer drug that costs $16,000 per dose in the U.S. sells for a fraction of that in Australia and Sweden, while an asthma inhaler priced at $500 in the U.S. is available for $40 in the U.K.

“This isn’t price control,” Trump said. “This is ending the global subsidy that has forced Americans to foot the bill for the world.” He accused Democrats of shielding the pharmaceutical industry and noted that five of ten drugs negotiated under the Biden administration were still priced more than 200 percent above global averages. While Trump said his first term achieved only a 2 percent drop in drug prices, he now promised reductions between 60 and 90 percent.

Health and Human Services Secretary Robert F. Kennedy Jr. praised the move, saying that Democrats had promised price parity for two decades but had been thwarted by pharmaceutical lobbying. “Trump had the courage to do it—even after receiving $100 million in pharma donations,” he said. He cited data showing U.S. per capita drug spending at $1,126, compared to just $240 in the U.K. CMS administrator Mehmet Oz described vulnerable patients in Philadelphia and Los Angeles who could not afford life-saving medications. NIH director Jay Bhattacharya said that maintaining high prices for identical drugs was the mark of a broken system. FDA commissioner Marty Makary added, “This is like paying $175,000 for a Ford in America that costs $10,000 in London.”

Trump said he would remove middlemen and, if necessary, use executive power to force drug companies to comply. He promised to permit safe imports of cheaper drugs from abroad and impose tariffs on countries that maintain what he called “unfair pricing practices.” He criticized the current system, saying Americans now spend 70 percent more on prescription drugs than in 2000. “Europe gets meds for a fifth or even a tenth of the price,” he said. “Now, I understand the system—and I will fix it.” He claimed that this move would give Republicans a chance to build a healthcare system that surpasses Obamacare.

Looking ahead, Trump said he will visit Saudi Arabia, the UAE, and Qatar, and is working with Turkish President Recep Tayyip Erdoğan to convene peace talks between Russia and Ukraine on May 15. He said he may attend the summit personally and urged negotiations to proceed even if President Vladimir Putin does not participate. He expressed interest in easing sanctions on Syria, in his words, “to give the country a fresh start.”

Trump also announced a series of domestic economic incentives: major tax cuts, exemptions for tips and overtime, no payroll tax on Social Security, and interest deductions for purchasing American-made cars. He claimed that over $10 trillion in new factory construction has been secured in the past two months—an amount he said “surpasses what most administrations manage in four or even eight years.”

In closing, Trump responded to questions about the China tariff deal, warning that if negotiations fail, tariffs could rise above 145 percent. He dismissed concerns about auto tariffs, saying that 11 major factories are already being built. He predicted Democrats would struggle to vote against legislation that includes sweeping drug price cuts and tax relief. “Even if their leadership pressures them, I think the votes will tell a different story,” he said.

“The world,” Trump concluded, “is safer than it was last week. And America is becoming great again.”