Trump Ahead of Presidential Election, Announces Plan to Sign Executive Order on 'Drug Price Reduction'

President Donald Trump of the United States [Photo by AP Yonhap News]

[Asia Economy Reporter Donghoon Jeong] U.S. President Donald Trump will sign an executive order focused on lowering drug prices.

According to the schedule released by the White House on the 23rd (local time), President Trump will sign the executive order on drug price reduction after delivering a speech at a White House event related to drug price policy on the afternoon of the 24th. White House spokesperson Judd Deere stated, "President Trump is exploring all possible ways to secure the world's most innovative vaccines and treatments while providing medicines at more affordable prices."

Major foreign media outlets are evaluating that President Trump, ahead of the presidential election, is addressing the highly publicized issue of lowering drug prices to attract voters' attention.

Previously, many Republican lawmakers and pharmaceutical companies opposed aligning overseas drug prices with domestic drug prices, arguing that it constitutes 'price control,' which violates free market principles. However, since the impact of the executive order on drug prices is limited and it will take time to establish formal regulatory procedures, it is expected that it will take some time before the executive order's effects are fully realized.

This content was produced with the assistance of AI translation services.