(Bloomberg) — President Donald Trump announced new policies Friday aimed at lowering prescription drug prices under Medicare by linking them to rates paid in other countries and allowing Americans to buy prescription medication imported from Canada.The four executive actions come as the president is looking to repair his standing on health-care issues — particularly with senior voters — as polls show sentiment souring over his handling of the coronavirus pandemic and efforts to eliminate Obamacare without having a ready replacement.
The orders “represent the most far reaching prescription drug reforms ever issued by a president,” Trump said at the event at the Eisenhower Executive Office Building in Washington. They will “completely restructure” the prescription drug market, he added.
The international drug price rule ties what the federal government pays for certain Medicare drugs to the lower prices other countries pay for the same products. It’s the only drug policy backed by the administration that would boost the government’s ability to decide what it will pay for medications.