Trump Proposes to Cut Drug Prices by Allowing Companies to Charge More

Julien Behal/PA Wire via ZUMA

From the New York Times:

President Trump will lay out on Friday a broad strategy to reduce prescription drug prices, but in a break from one of his most popular campaign promises, he will not call for Medicare to negotiate lower prices with drug manufacturers, senior administration officials said.

I am shocked that Trump is breaking this campaign promise. Who would ever have guessed? So what will he be proposing?

The administration will, as expected, put pressure on foreign countries to relax drug price controls, in the belief that pharmaceutical companies can then lower prices in the United States.

So Trump is proposing to increase drug prices overseas and then do nothing to leverage this into lower prices here. Sounds great! I can hardly wait for this novel approach to slash my prescription bill.