Trump touts affordability at GOP conference: ‘No other president could do what I’m doing’

DORAL, FLORIDA: President Donald Trump declared that his administration has achieved results that previous presidents could not, while speaking to Republican lawmakers at the Republican Members Issues Conference in Florida on Monday, March 9.

During the remarks, he highlighted his efforts to reduce prescription drug prices in the United States through most favored nations (MFN) deals with pharmaceutical companies.

Trump also urged Congress to codify the policy, arguing that it would deliver major financial relief to Americans while boosting Republican prospects in upcoming midterm elections.

Trump describes negotiations and MFN drug pricing push

Speaking at the conference, Trump told Republicans that “no other president could do some of the things I’m doing,” emphasizing his belief that previous presidents lacked the resolve to secure similar results.

He cited his negotiations with international leaders, including French President Emmanuel Macron, as an example of how he pressured other countries to accept changes in drug pricing policies.

Trump explained “I said, Well, here’s the story, if you don’t do it, I’m going to put,’ in the case of Emmanuel, ‘a 100% tariff on all wines and champagnes coming into the United States”. According to Trump, he told Macron that the tariff order was already prepared and sitting on his desk. 

He said that after initially protesting, Macron ultimately agreed to the arrangement. “I got every country to agree… I don’t want to brag, but you know they’ve said this about a lot of things; no other president could do some of the things I’m doing,” Trump declared.

The MFN initiative was designed to align US drug prices with what patients in other developed nations pay. Trump said Americans had previously "paid the highest pharmaceutical prices" in the world and that the policy would correct this imbalance.

Deals with pharmaceutical companies and calls for congressional action

From late September to the end of December last year, Trump said his administration finalized MFN deals with 14 major pharmaceutical companies. Some of the major companies include Amgen, AstraZeneca, Eli Lilly etc.

In February, the administration launched the TrumpRx website, which allows Americans to obtain coupons offering significant discounts on commonly used prescription drugs. 

According to the administration, the coupon program reduces the monthly cost of Wegovy from about $1,350 to $350 and lowers the price of Ozempic from about $1,000 to $350 per month.

Trump previously described the policy as “one of the most consequential” executive orders in US history, predicting drug prices could drop “almost immediately” by between 30% and 80%.

He said pharmaceutical companies would either comply "voluntarily or face federal government action" to ensure Americans pay prices comparable to those in other countries.

During his State of the Union address and again at the Republican Members Issues Conference, Trump urged Congress to formally codify the MFN policy into law. “I’m also asking you to take swift action to codify my most-favored-nation policy on drug prices…That alone should win the midterms,” he told lawmakers.

Trump also criticized health insurers, saying he wants to stop payments to large insurance companies and instead give the "money directly to individuals so they can purchase their own health care at a lower cost."

He previously used the same argument when opposing an extension of enhanced subsidies under the Affordable Care Act.