Use Trade Policy to Push Wealthy Nations to Pay More for Meds

NEWSMAX

President Trump just announced another round of agreements with pharmaceutical companies under his "most-favored-nation" drug pricing initiative.

The nine new deals bring the total number of participating manufacturers to 26, covering nearly 90% of the branded-drug market.

The campaign targets a real problem. Many wealthy countries use price controls to pay far less for new medicines than Americans do.

Under most-favored-nation pricing, Washington would try to close that gap by tying U.S. drug prices to the lower prices in force abroad.

Trump deserves credit for highlighting this injustice.

But Congress should not enshrine foreign price controls in U.S. law.

A better strategy is to use trade policy to push wealthy countries to pay more for the medicines they consume.

Read more here.