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ECONOMY

President Trump instructs USTR to address U.S. drug prices in trade talks

  • May 12, 2018
  • , All national papers evening edition
  • JMH Summary

All Saturday evening papers reported that President Trump announced on Friday that Washington will request drug prices be set at higher levels in trade negotiations with foreign governments, possibly including Japan. The President instructed USTR Lighthizer to address with all trading partners the fixing of prices of American pharmaceuticals and medical devices. The President said: “When foreign governments extort unreasonably low prices from U.S. drug makers, Americans have to pay more to subsidize the enormous cost of research and development.” In response to the President’s instructions, the top U.S. trade official said he will employ all possible means so that American drugs can be traded at fair prices. Pointing out that the U.S. has long taken issue with the “absence of fairness and transparency” in the pharmaceutical market in Japan, Asahi projected that the Trump administration will take up the matter in future bilateral trade talks.

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