Latest / The Ben Ferguson Podcast / Trump & America WIN w China Tariffs, Hostage Releases & a Drug Price Shakedown

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Trump & America WIN w China Tariffs, Hostage Releases & a Drug Price Shakedown · The Ben Ferguson Podcast

• 0:01
  Speaker 1: We have got a lot that has happened at the
• 0:03
  Speaker 1: White House. In fact, and just the last week, President
• 0:06
  Speaker 1: Trump has secured a UK trade deal, which is already
• 0:09
  Speaker 1: old news. We now have this China trade deal. We
• 0:12
  Speaker 1: have the release of an American hostage. We have the
• 0:15
  Speaker 1: ceasefire with India and Pakistan, and a ceasefire with the
• 0:19
  Speaker 1: who Thies. And where's the media obsessing over well, saying
• 0:22
  Speaker 1: the Donald Trump's deal with China may not actually work out,
• 0:25
  Speaker 1: and that's what you should really be focusing on.
• 0:28
  Speaker 2: White House press singer Terry.
• 0:30
  Speaker 1: Coming out on Fox and Friends Monday morning, sang the
• 0:33
  Speaker 1: stage for all of this, saying, this.
• 0:35
  Speaker 3: Told you the next one hundred days would consist of
• 0:37
  Speaker 3: peace deals in trade deals, and that's exactly what we
• 0:40
  Speaker 3: have seen. The President announced last week the big trade
• 0:43
  Speaker 3: deal with the UK, as you mentioned, Now we have
• 0:45
  Speaker 3: a first deal with China. Just yesterday, the President announced
• 0:48
  Speaker 3: the release of the last remaining American hostage in Gaza, Eden, Alexander,
• 0:53
  Speaker 3: who will soon be united with his loving family, God
• 0:56
  Speaker 3: bless him. That's thanks to President Trump. We also negotiated
• 1:00
  Speaker 3: a ceasefire with the Hoothies, and President Trump was instrumental
• 1:03
  Speaker 3: in negotiating a ceasefire with India and Pakistan.
• 1:06
  Speaker 2: This is all in the last week.
• 1:08
  Speaker 3: President Trump and his team are working incredibly hard on
• 1:11
  Speaker 3: behalf of the country and the world to secure peace deals,
• 1:15
  Speaker 3: in trade deals, and don't forget, we have a tax
• 1:17
  Speaker 3: deal coming too. The administration is working with Capitol Hills
• 1:20
  Speaker 3: to sign the largest tax cuts in American history. Right now, you.
• 1:26
  Speaker 1: Listen to this White House and time and time again,
• 1:29
  Speaker 1: this administration is telling you what they're gonna do. The
• 1:33
  Speaker 1: Left says it's impossible, that it cannot happen, and then
• 1:36
  Speaker 1: they pay off on it and they do it. You
• 1:39
  Speaker 1: look at the president right now on the issue of China.
• 1:42
  Speaker 1: Just this week, I was on CNN and one of
• 1:45
  Speaker 1: the people from the view In Navarro, host of yous,
• 1:48
  Speaker 1: she's on CNN. She's like, and another expert quote unquote
• 1:53
  Speaker 1: expert when it comes to the economy we're on. They're like, well,
• 1:55
  Speaker 1: there's a very good chance these trade deals won't even
• 1:57
  Speaker 1: get done this year. And I'm like, that's not true,
• 1:59
  Speaker 1: that's absolutely not true. And I fought back hard because
• 2:02
  Speaker 1: they're just lying, and they're like, well, the American people
• 2:04
  Speaker 1: can't handle these trade deals and there's going to be
• 2:07
  Speaker 1: empty shelves because this is going to drag on into
• 2:09
  Speaker 1: next year. Well, what happened with China here is part
• 2:12
  Speaker 1: of what the White House said about that.
• 2:14
  Speaker 4: First off, your reaction and what could you tell us
• 2:17
  Speaker 4: about the China deal that has tariffs dropping from one
• 2:20
  Speaker 4: hundred and forty five one twenty five respectively.
• 2:23
  Speaker 2: To thirty and ten.
• 2:26
  Speaker 3: This is an extraordinary first step in the right direction,
• 2:30
  Speaker 3: and thanks to the strength of President Trump, Secretary Besant,
• 2:33
  Speaker 3: and Ambassador Greer, we're able to cut this initial deal
• 2:36
  Speaker 3: with China. China agreed to reduce their tariffs on the
• 2:39
  Speaker 3: United States by one hundred and fifteen percent. They also
• 2:43
  Speaker 3: agreed to continue having discussions about opening Chinese markets to
• 2:47
  Speaker 3: American made products and goods. And they also agreed to
• 2:50
  Speaker 3: continue seriously discussing the grave impact that Chinese produced fetanol
• 2:55
  Speaker 3: is having right here in the.
• 2:56
  Speaker 2: United States and our people.
• 2:58
  Speaker 3: So this is a great first for the American public,
• 3:01
  Speaker 3: and Secretary Best and Ambassador Greer, and of course President
• 3:04
  Speaker 3: Trump will continue negotiations with China so we can hopefully
• 3:07
  Speaker 3: inevitably get to a fair and comprehensive big trade deal.
• 3:12
  Speaker 1: So, yet again with the media and the last set
• 3:14
  Speaker 1: was impossible has become a reality. President Trump also on Monday,
• 3:18
  Speaker 1: saying this about China and the.
• 3:20
  Speaker 4: Deal, and they've agreed to open China, fully open China.
• 3:24
  Speaker 4: And I think it's going to be fantastic for China.
• 3:27
  Speaker 4: I think it's going to be fantastic for US, and
• 3:29
  Speaker 4: I think it's going to be great for unification and peace.
• 3:33
  Speaker 4: China will also suspend and remove all of its non
• 3:36
  Speaker 4: monetary barriers. They've agreed to do that. Well, they're very numerous.
• 3:42
  Speaker 4: But again, to me, the biggest thing that came out
• 3:45
  Speaker 4: of that meeting is they've agreed. Now we have to
• 3:46
  Speaker 4: get it papered, but they've agreed to open up China's
• 3:49
  Speaker 4: going to be great for everybody.
• 3:51
  Speaker 1: And look, this is the President United States of America
• 3:54
  Speaker 1: having dialogue and conversations and sending an envoy to Geneva,
• 3:59
  Speaker 1: where he said, we got to let them understand they've
• 4:01
  Speaker 1: been taking advantage of us. They know that we're not
• 4:04
  Speaker 1: going to let them keep doing it. They know that,
• 4:06
  Speaker 1: so let's do a better deal for both nations. And
• 4:09
  Speaker 1: so as he described what happened Geneva, here's what he
• 4:12
  Speaker 1: said with more details.
• 4:14
  Speaker 4: In addition, yesterday we achieved a total reset with China
• 4:19
  Speaker 4: after productive talks in Geneva. Both sides now agree to
• 4:23
  Speaker 4: reduce the tariffs imposed after April second to ten percent
• 4:28
  Speaker 4: for ninety days as negotiators continue in the largest structural issues.
• 4:33
  Speaker 5: And I want to tell you that a couple of things.
• 4:37
  Speaker 4: First of all, that doesn't include the tariffs that are
• 4:39
  Speaker 4: already on that are our tariffs, And it doesn't include
• 4:42
  Speaker 4: tariffs on cars, steel, aluminum, things such as that, or
• 4:48
  Speaker 4: tariffs that may be imposed on pharmaceuticals, because we want
• 4:51
  Speaker 4: to bring the pharmaceutical businesses back to the United States
• 4:55
  Speaker 4: and they're already starting to come back now based on tariffs.
• 5:00
  Speaker 1: Let me walk you through where we were and where
• 5:02
  Speaker 1: we are now, because if you look at this timeline,
• 5:05
  Speaker 1: it's one that you need to understand not only how
• 5:08
  Speaker 1: quickly this happened, but also what the art of the
• 5:12
  Speaker 1: deal look like. I'm going to take you back to
• 5:14
  Speaker 1: Phase one of the trade agreement signed January the fifteenth
• 5:18
  Speaker 1: of twenty twenty.
• 5:18
  Speaker 2: All right, Phase one. The agreement back.
• 5:21
  Speaker 1: Then aimed to ease trade tensions between the US and
• 5:23
  Speaker 1: China that had escalated. They claim since twenty eighteen. China
• 5:28
  Speaker 1: commitments were to increase the purchase of US goods and
• 5:31
  Speaker 1: services by two hundred billion over twenty twenty twenty twenty
• 5:34
  Speaker 1: one compared to quote twenty seventeen levels.
• 5:37
  Speaker 2: Guess what happened. They didn't do that.
• 5:39
  Speaker 1: They also claim they were going to enhance intellectual property protections.
• 5:42
  Speaker 2: They didn't do it.
• 5:43
  Speaker 1: They said they were going to eliminate force technology transfers,
• 5:46
  Speaker 1: they lied, they didn't do it. They said they were
• 5:48
  Speaker 1: going to reframe from competitive currency devaluation.
• 5:51
  Speaker 2: They lied.
• 5:52
  Speaker 1: They are currency they do currency manipulation.
• 5:55
  Speaker 2: All the time. They didn't do it.
• 5:57
  Speaker 1: Now again, I go back to their lies with the
• 6:00
  Speaker 1: Obama Biden regime and the Biden Harrish regime. They said
• 6:04
  Speaker 1: they were going to improve access for US financial services firms.
• 6:07
  Speaker 1: All of that was a lie. None of it works.
• 6:10
  Speaker 1: So you now look and you move forward from there. Right,
• 6:13
  Speaker 1: they were lying. They're taking advantage of us. They have
• 6:15
  Speaker 1: tarras on our stuff. They don't look our stuff going
• 6:17
  Speaker 1: to their country. You move forward to twenty twenty five
• 6:20
  Speaker 1: May the twelfth, and here's what we now know. There
• 6:24
  Speaker 1: was this trade tension. They took advantage of us. The
• 6:26
  Speaker 1: President said no more, and he said we're done. We're
• 6:30
  Speaker 1: going to basically put imports to one hundred and forty
• 6:35
  Speaker 1: five percent. You now see where we are today on
• 6:38
  Speaker 1: the twelfth, and the US tarifs on Chinese imports are
• 6:41
  Speaker 1: gone from one hundred and forty five percent to down
• 6:43
  Speaker 1: to thirty percent. Chinese tariffs on US goods have been
• 6:47
  Speaker 1: reduced from one hundred and twenty five percent to ten percent,
• 6:51
  Speaker 1: and the reductions are set for ninety day periods, during
• 6:54
  Speaker 1: which they say further negotiations will continue. Global stock markets
• 7:00
  Speaker 1: so what do they do. They didn't listen to the
• 7:01
  Speaker 1: media or the left or the Democrats. They surge with
• 7:04
  Speaker 1: significant games and major indexes. The US dollar also strengthened,
• 7:09
  Speaker 1: and commodity price including crude oil, rowse significantly. While the
• 7:14
  Speaker 1: agreement is seen is a quote positive step, experts quote
• 7:18
  Speaker 1: caution it may be temporary fixed without addressing underlying issues.
• 7:23
  Speaker 1: That's the economic times. Again, you cannot trust the media
• 7:26
  Speaker 1: and how they're doing this. So what is the takeaway
• 7:29
  Speaker 1: from this? The takeaway is pretty simple, US China trade.
• 7:33
  Speaker 1: The relations are seeing a significant development in favor of
• 7:37
  Speaker 1: the US. China needs America more than we need China,
• 7:42
  Speaker 1: is what they are now signaling. They were going to
• 7:44
  Speaker 1: have major economic problems in China. That's the reason why
• 7:47
  Speaker 1: they decide to come forward and do this deal now.
• 7:51
  Speaker 1: And look, if you listen to what those around the
• 7:54
  Speaker 1: president said about this deal, President Trump outlining a vision
• 8:00
  Speaker 1: and they said for rebranding and rebalancing global trade. I
• 8:04
  Speaker 1: want you to hear what Scotts said had to say,
• 8:06
  Speaker 1: take a listen.
• 8:07
  Speaker 6: This administration is running full speed to make sure that
• 8:11
  Speaker 6: what we saw during COVID never happens again. So it's
• 8:16
  Speaker 6: a combination of it can be terrorists, but again it
• 8:21
  Speaker 6: is the administration moving as quickly as possible to make
• 8:25
  Speaker 6: sure that we are self sufficient in the strategic industries.
• 8:29
  Speaker 7: I think that's completely understandable from the United States side,
• 8:33
  Speaker 7: and I wanted to miss the secretary whether the Chinese
• 8:35
  Speaker 7: understood that. Did you get the sense they do understand
• 8:37
  Speaker 7: that that will be the road forward for the United States.
• 8:43
  Speaker 6: Well, I think they understand that, and I think they
• 8:46
  Speaker 6: understand that we are focused on fair trade, that this
• 8:51
  Speaker 6: gigantic deficit that we have with them, that it didn't
• 8:56
  Speaker 6: happen last year, it didn't happen the year before, It's
• 8:59
  Speaker 6: happened over decades, and that this happened. Half excuse me
• 9:03
  Speaker 6: has to be remedied. The China shock gutted our manufacturing sector,
• 9:09
  Speaker 6: and we want to bring that back. On the other side,
• 9:12
  Speaker 6: Party Chair. She has said that he would like to
• 9:16
  Speaker 6: increase consumption, but to date the Chinese have just increased manufacturing.
• 9:23
  Speaker 6: So we would like to see them increase consumption. We
• 9:26
  Speaker 6: would like to see them open their market to American products.
• 9:29
  Speaker 6: So there are two ways to rebalance. One is fewer
• 9:35
  Speaker 6: Chinese goods in the US market. The other is more
• 9:39
  Speaker 6: American goods in the Chinese market. And my guess is
• 9:43
  Speaker 6: that the answer is somewhere in between.
• 9:47
  Speaker 1: So you listen to what the President outlined a vision
• 9:50
  Speaker 1: for a rebalance, and we're getting it this ninety days
• 9:54
  Speaker 1: to move forward with lowering these tariffs on each country
• 9:58
  Speaker 1: and China moving several steps closer to achieving a major
• 10:02
  Speaker 1: renegotiation deal. Everyone said this was impossible, and it's happening.
• 10:09
  Speaker 1: God blessed Donald Trump for doing this. I mentioned earlier
• 10:14
  Speaker 1: that China ignored and broke virtually everything from twenty twenty
• 10:19
  Speaker 1: to twenty twenty four that we had had in agreements
• 10:21
  Speaker 1: before them. Currency manipulation, laugh in our face is a
• 10:25
  Speaker 1: great example of that Second Trader. Secretary Bassett also said
• 10:29
  Speaker 1: this about China and why they were able to get
• 10:31
  Speaker 1: away with ignoring the trade agreement that was set up
• 10:34
  Speaker 1: by Trump in twenty sixteen through twenty twenty, that Joe
• 10:38
  Speaker 1: Biden inherited that they just they didn't care because they
• 10:41
  Speaker 1: knew Joe Biden was weak.
• 10:42
  Speaker 2: They owned him.
• 10:43
  Speaker 1: This goes back to the corruption with the Biden crime family.
• 10:47
  Speaker 1: China was paying off the President's family clearly, and the
• 10:52
  Speaker 1: ten percent for the big guy.
• 10:54
  Speaker 2: They knew they didn't have to play by the rules.
• 10:57
  Speaker 6: What has to happen is it has to be fair
• 10:59
  Speaker 6: for the American people. But in January twenty twenty, President
• 11:04
  Speaker 6: Trump produced a template.
• 11:06
  Speaker 5: We had an.
• 11:07
  Speaker 6: Excellent trade agreement with China, and the Biden administration chows not.
• 11:14
  Speaker 2: To enforce it.
• 11:15
  Speaker 6: That the Chinese delegation basically told us that once President
• 11:19
  Speaker 6: Biden came into office, they just ignored their obligations. So
• 11:24
  Speaker 6: we all already have a large framework. The other thing
• 11:28
  Speaker 6: to remember here, Jonathan, is that this is a pause
• 11:32
  Speaker 6: down to ten percent. The April second level for China
• 11:37
  Speaker 6: is thirty four percent, So we will be working to
• 11:43
  Speaker 6: see where their final reciprocal number ends up, and the
• 11:48
  Speaker 6: negotiations are a combination of tariffs, non tariff trade barriers,
• 11:53
  Speaker 6: currency manipulation, and subsidies of labor and capital.
• 12:00
  Speaker 1: So this is all part of the Grand Plan. Trump
• 12:03
  Speaker 1: has a China trade deal. They said it couldn't happen.
• 12:06
  Speaker 1: Trump is lowering prescription drug prices. That's another thing that
• 12:10
  Speaker 1: he did as well. So let's move to that because
• 12:12
  Speaker 1: that's another big part of this story right now that
• 12:15
  Speaker 1: you need to understand. The President coming out making it
• 12:18
  Speaker 1: very cleared that it's time for us to fight big pharma,
• 12:23
  Speaker 1: as he put it, fight them and make sure that
• 12:27
  Speaker 1: America is no longer taking advantage of. Same thing with
• 12:30
  Speaker 1: the what we just talked about with China, but now
• 12:33
  Speaker 1: this applies to us and to what we're dealing with
• 12:37
  Speaker 1: with prescription drug prices that are clearly out of control.
• 12:43
  Speaker 1: Take a listen to the President talking about this at
• 12:47
  Speaker 1: the White House or saying we are no longer going
• 12:49
  Speaker 1: to be taken advantage of and the rest of the
• 12:51
  Speaker 1: world is going to have to pay their fair share,
• 12:53
  Speaker 1: and we're not going to subsidize these companies.
• 12:56
  Speaker 4: But starting today, the United States will no longer subsidize
• 12:59
  Speaker 4: the healthcare air of foreign countries, which is what we
• 13:02
  Speaker 4: were doing. We were subsidizing others healthcare countries where they
• 13:06
  Speaker 4: paid a small fraction of what for the same drug.
• 13:10
  Speaker 5: That what we pay many, many times more for.
• 13:13
  Speaker 4: And we're no longer tolerate profiteering and price gouging from
• 13:17
  Speaker 4: big pharma.
• 13:18
  Speaker 5: But again, it was.
• 13:20
  Speaker 4: Really the countries that forced Big Farmer to do things
• 13:24
  Speaker 4: that frankly, I'm not sure they really felt comfortable doing.
• 13:28
  Speaker 4: But they've gotten away with it these countries. European Union
• 13:31
  Speaker 4: has been brutal, and the drug companies actually told me, sirs,
• 13:35
  Speaker 4: it was just brutal how they forced them. And European
• 13:38
  Speaker 4: Union suing all our companies Apple, Google, Meta, they're suing
• 13:46
  Speaker 4: all of our companies.
• 13:47
  Speaker 5: They end up they have judges that are.
• 13:51
  Speaker 4: European Union centric and they get rewarded fifteen billion, seventeen billion,
• 13:59
  Speaker 4: twenty and they use that to run their operation.
• 14:04
  Speaker 5: Not going to happen any longer that I can tell you.
• 14:08
  Speaker 1: Not going to happen any longer that I can tell you.
• 14:12
  Speaker 1: And so is this going to be a slash and
• 14:15
  Speaker 1: the prices for you the American people? Yes, how do
• 14:18
  Speaker 1: we know it? Here's the President on that so for
• 14:20
  Speaker 1: the first time in many.
• 14:21
  Speaker 4: Years, we'll slash the costs of prescription drugs and we
• 14:24
  Speaker 4: will bring fairness to America. Drug prices will come down
• 14:28
  Speaker 4: by much more. Really, if you think fifty nine, if
• 14:32
  Speaker 4: you think of a drug that is sometimes ten times
• 14:36
  Speaker 4: more expensive, it's much more than the fifty nine percent.
• 14:39
  Speaker 4: You know, it depends on the way you want to
• 14:40
  Speaker 4: analyze it, but in one way, you could analyze it
• 14:43
  Speaker 4: that way. But between fifty nine and eighty and I
• 14:46
  Speaker 4: guess even ninety percent. So when I worked so hard
• 14:50
  Speaker 4: in the first term, and if I got prices down,
• 14:53
  Speaker 4: I remember I was the only one to ever get
• 14:55
  Speaker 4: prices down for a full year. But I get them
• 14:58
  Speaker 4: down like two percent, and I thought it was like
• 15:00
  Speaker 4: a big deal. Well we're getting them down sixty seventy
• 15:03
  Speaker 4: eighty ninety percent, But actually more than that if you
• 15:07
  Speaker 4: think about it in the way mathematically, and farmer has
• 15:12
  Speaker 4: to say, we're sorry, but we'll not be able to
• 15:16
  Speaker 4: do this any longer. To these to these countries that
• 15:19
  Speaker 4: have been so tough, they've been very tough, nasty. It's trade,
• 15:24
  Speaker 4: it's trade, and farmer is also very powerful. And the
• 15:28
  Speaker 4: Democrats have protected farmers and Look.
• 15:31
  Speaker 1: The President wasn't done there, as he explained to the
• 15:34
  Speaker 1: American people, and this is good for everyone. This is
• 15:37
  Speaker 1: not a political statement the president's making. He's talking about
• 15:40
  Speaker 1: how much more we are paying then other countries are
• 15:44
  Speaker 1: paying for the same drugs made in the same pharmaceutical labs.
• 15:48
  Speaker 1: The same damn pill in the same place, comes off
• 15:50
  Speaker 1: the line, and it goes to one country and they
• 15:52
  Speaker 1: pay ten cents on the dollar compared to the US.
• 15:56
  Speaker 2: It's wrong.
• 15:57
  Speaker 4: So today Americans spend twenty percent more for prescription drugs
• 16:02
  Speaker 4: than we spent in the year two thousand.
• 16:04
  Speaker 5: Think of that.
• 16:05
  Speaker 4: Our country has the highest drug prices anywhere in the
• 16:08
  Speaker 4: world by sometimes a factor of five, six seven, eight times.
• 16:12
  Speaker 4: It's not like they're slightly highed that six seven eight times.
• 16:16
  Speaker 5: There are even cases of.
• 16:17
  Speaker 4: Ten times higher, so that you go ten times more
• 16:21
  Speaker 4: expensive for the same drug. That's big numbers. Even though
• 16:25
  Speaker 4: the United States is home to only four percent of
• 16:28
  Speaker 4: the world's population, pharmaceutical companies make more than two thirds
• 16:32
  Speaker 4: of their profits in America. So think of that, with
• 16:35
  Speaker 4: four percent of the population, the pharmaceutical companies make most
• 16:39
  Speaker 4: of their money, most of their profits from America.
• 16:43
  Speaker 5: That's not a good thing. Now.
• 16:46
  Speaker 4: I think, by the way pharmaceutical have great respect for
• 16:49
  Speaker 4: these companies and for the people that run them. I
• 16:51
  Speaker 4: really do, and I think they did one of the
• 16:53
  Speaker 4: greatest jobs in history for their company, convincing people for
• 16:57
  Speaker 4: many years that this was a fair system. Never nobody
• 17:02
  Speaker 4: really understood why, but I figured it out. For years,
• 17:06
  Speaker 4: pharmaceutical and drug companies have said that research and development
• 17:10
  Speaker 4: costs were what they are for no reason whatsoever.
• 17:15
  Speaker 5: They had to be borne by America alone. Not anymore.
• 17:21
  Speaker 5: They don't, not anymore.
• 17:23
  Speaker 1: They don't the present saying we're going to most favored
• 17:27
  Speaker 1: nation prescription drug pricing. This is where it's going to
• 17:31
  Speaker 1: affect you in your bottom line when you go shopping
• 17:35
  Speaker 1: for drugs that you need.
• 17:36
  Speaker 2: And here is how that's going to work.
• 17:39
  Speaker 4: But it's called most favored nation. We are going to
• 17:41
  Speaker 4: pay the lowest price there is in the world. We
• 17:45
  Speaker 4: will get whoever is paying the lowest price, that's the
• 17:48
  Speaker 4: price that we're going to get.
• 17:49
  Speaker 5: So remember that.
• 17:50
  Speaker 4: So we're no longer paying ten times more than another country.
• 17:55
  Speaker 4: Whoever is paying the lowest price. We will look at
• 17:58
  Speaker 4: that price and we will say that's the price reguard.
• 18:00
  Speaker 5: To pay most favorite nations. That's what it is.
• 18:06
  Speaker 4: One breast cancer drug costs Americans over sixteen thousand dollars
• 18:11
  Speaker 4: per bottle, but the same drug from the same factory,
• 18:16
  Speaker 4: manufactured by the same company is one sixth that price
• 18:22
  Speaker 4: in Australia and one tenth that price in Sweden, one tenth.
• 18:28
  Speaker 5: For the identical product.
• 18:31
  Speaker 4: A common asthma drug costs almost five hundred dollars here
• 18:35
  Speaker 4: in America, but costs less than forty dollars in the
• 18:38
  Speaker 4: United Kingdom. So forty dollars in the United Kingdom, which
• 18:43
  Speaker 4: is where this gentleman told me he paid a small
• 18:45
  Speaker 4: amount for his shot. But think of that, So forty
• 18:51
  Speaker 4: dollars versus five hundred dollars.
• 18:54
  Speaker 1: Here, forty dollars compared to four or five hundred dollars here.
• 19:01
  Speaker 1: You have a president that is saying it very clearly,
• 19:06
  Speaker 1: this should have been done a long time ago. We
• 19:09
  Speaker 1: should have made it competitive market. That's what the American
• 19:12
  Speaker 1: people should have expected here. And one of the biggest
• 19:15
  Speaker 1: problems is when it comes to us, is we have
• 19:17
  Speaker 1: so many people that are filing bankruptcy, so many Americans
• 19:22
  Speaker 1: that are filing bankruptcy because of these incredibly high prices.
• 19:28
  Speaker 1: This is a historic day for the president. It's a
• 19:31
  Speaker 1: historic day, by the way, for the American people. It's
• 19:34
  Speaker 1: something that we should all be so excited about because
• 19:37
  Speaker 1: we finally have a president that is saying no more
• 19:41
  Speaker 1: to bankruptcy because of people that are having to mortgage
• 19:43
  Speaker 1: their homes and second mortgage and third mortgage to pay
• 19:46
  Speaker 1: for life saving pills that other countries are paying pennies
• 19:49
  Speaker 1: on the dollar for. It's exactly, by the way, what
• 19:51
  Speaker 1: the NIH director had to say.
• 19:53
  Speaker 8: I firmly believe in research and development for drugs. I mean,
• 19:57
  Speaker 8: it's part of the nit's mission to to look for
• 20:01
  Speaker 8: fundamental biological advances that develop in better treatments. But why
• 20:05
  Speaker 8: should it only be American taxpayers that pay for that.
• 20:08
  Speaker 8: What President Trump is doing is saying enough, let's have
• 20:11
  Speaker 8: a broader base of support for this research mission. It's
• 20:14
  Speaker 8: actually pro in some ways pro pharmas because it's going
• 20:17
  Speaker 8: to expand the set of of of sort of stakeholders
• 20:21
  Speaker 8: to include Europeans as well for the for the support
• 20:23
  Speaker 8: of R and D, while at the same time protecting
• 20:26
  Speaker 8: American taxpayers from having to pay such high prices for drugs.
• 20:31
  Speaker 8: I mean, we have patients going bankrupt over high high
• 20:34
  Speaker 8: health bills.
• 20:35
  Speaker 5: We have a.
• 20:36
  Speaker 1: Going bankrupt and the President's trying to stop that. Major
• 20:41
  Speaker 1: victory Number one for the American people is going to
• 20:44
  Speaker 1: have a massive impact on so many Americans that deal
• 20:49
  Speaker 1: with high costs of prescription drugs. Here is what you
• 20:53
  Speaker 1: need to know about what the President has done to
• 20:57
  Speaker 1: lower the price of prescription drugs for all Americans. The
• 21:01
  Speaker 1: announcement and the action put forth saying American patients will
• 21:06
  Speaker 1: be first instead of the pharmaceutical companies by Donald Trump
• 21:10
  Speaker 1: will have an impact for every American. Now, this should
• 21:13
  Speaker 1: not be a conservative or liberal, or Republican or Democratic issue,
• 21:18
  Speaker 1: yet Democrats are angry about it. So let me tell
• 21:22
  Speaker 1: you exactly how this is going to have an impact
• 21:25
  Speaker 1: on you. First up, the President said that we are
• 21:28
  Speaker 1: now going to have most Favored nation prescription drug pricing,
• 21:35
  Speaker 1: saying we are going to pay the lowest price that
• 21:37
  Speaker 1: there is in the world.
• 21:39
  Speaker 2: Here's the President in his own words.
• 21:42
  Speaker 4: But it's called most Favored nation. We are going to
• 21:44
  Speaker 4: pay the lowest price there is in the world. We
• 21:48
  Speaker 4: will get whoever is paying the lowest price. That's the
• 21:51
  Speaker 4: price that we're going to get. So remember this, So
• 21:54
  Speaker 4: We're no longer paying ten times more than another country.
• 21:58
  Speaker 4: Whoever is paying the lowest price. We will look at
• 22:01
  Speaker 4: that price and we will say that's the price we're
• 22:03
  Speaker 4: going to pay most favorite nations.
• 22:07
  Speaker 5: That's what it is.
• 22:09
  Speaker 4: One breast cancer drug costs Americans over sixteen thousand dollars
• 22:15
  Speaker 4: per bottle, but the same drug from the same factory,
• 22:20
  Speaker 4: manufactured by the same company is one sixth that price
• 22:25
  Speaker 4: in Australia and one tenth that price in Sweden, one
• 22:30
  Speaker 4: tenth for.
• 22:31
  Speaker 5: The identical product.
• 22:34
  Speaker 4: A common asthma drug costs almost five hundred dollars here
• 22:38
  Speaker 4: in America, but costs less than forty dollars in the
• 22:42
  Speaker 4: United Kingdom. So forty dollars in the United Kingdom, which
• 22:46
  Speaker 4: is where this gentleman told me he paid a small amount.
• 22:49
  Speaker 5: For his shot.
• 22:53
  Speaker 4: But think of that, So forty dollars versus five hundred dollars.
• 22:58
  Speaker 1: Here, forty compared to five hundred dollars, the difference between
• 23:03
  Speaker 1: the UK and the US. Now, let me explain more
• 23:06
  Speaker 1: about this order. The order directs the US Trade Representative
• 23:09
  Speaker 1: and the Secretary of Commerce to take action to ensure
• 23:14
  Speaker 1: foreign countries are not engaged in practices that purposely and
• 23:18
  Speaker 1: unfairly undercut market prices and drive price hikes in the
• 23:23
  Speaker 1: United States. All what I'm giving you right now is
• 23:25
  Speaker 1: coming directly from the White House, and want to make
• 23:27
  Speaker 1: that very clear. Number Two, the order instructs the Administration
• 23:32
  Speaker 1: to communicate price targets to pharmaceutical manufacturers to establish that America,
• 23:38
  Speaker 1: the largest purchaser and funder of prescription drugs in the world.
• 23:43
  Speaker 2: Gets the best price.
• 23:45
  Speaker 1: The Secretary of Health and Human Services is going to
• 23:48
  Speaker 1: establish a mechanism through which American patients can buy their
• 23:52
  Speaker 1: drugs directly from manufacturers who sell to Americans at a
• 23:57
  Speaker 1: quote most favored nation price, bypassing the middlemen, and finally
• 24:04
  Speaker 1: for the White House. If drug manufacturers fail to offer
• 24:07
  Speaker 1: most favored nation pricing, the order directs the Secretary of
• 24:11
  Speaker 1: Health and Human Services to one propose rules and impose
• 24:15
  Speaker 1: most favored nation pricing, and two take other aggressive measures
• 24:20
  Speaker 1: to significantly reduce the costs of prescription drugs the American consumer,
• 24:25
  Speaker 1: and most importantly, in anti competitive practices. Why because the
• 24:31
  Speaker 1: White House says it's about getting a better deal for
• 24:34
  Speaker 1: Americans and President Trump once again taking action to keep
• 24:38
  Speaker 1: pharmaceutical manufacturers from charging Americans high drug prices while giving
• 24:44
  Speaker 1: steep discounts to other wealthy nations.
• 24:47
  Speaker 2: That is something that.
• 24:48
  Speaker 1: Doctor Oz talked about the White House with the President
• 24:51
  Speaker 1: by his side, and here is what he said.
• 24:54
  Speaker 9: That means that we are paying in America four times
• 24:58
  Speaker 9: more than that drug costs other countries. Again, one hundred
• 25:01
  Speaker 9: percents the baseline's two hundred and eighty nine percent. Above
• 25:04
  Speaker 9: that baseline, it goes all the way down to where
• 25:06
  Speaker 9: we're paying fifty percent more than any other country. That's
• 25:08
  Speaker 9: the range, as was pointed out by President Trump. Half
• 25:12
  Speaker 9: the time, we're paying three times more than it's paid
• 25:14
  Speaker 9: in other countries. It doesn't make any sense for the
• 25:17
  Speaker 9: system that stated President Trump is over and over again indicated,
• 25:20
  Speaker 9: and Secretary Kennedy has reflected as well. We want innovation,
• 25:23
  Speaker 9: We want our technology partners doing the best they can
• 25:27
  Speaker 9: to make the best solutions for drugs to secure as
• 25:29
  Speaker 9: many people in America and around the world as possible.
• 25:32
  Speaker 9: By getting our allies to pay a bit more as
• 25:35
  Speaker 9: they should be and they should have for many years
• 25:37
  Speaker 9: been doing, will course correct a problem that's gotten out
• 25:40
  Speaker 9: of hand. And by doing that in a thoughtful, effective way,
• 25:43
  Speaker 9: we're going to be able to get the pharmaceutical industry hole.
• 25:46
  Speaker 9: Those jobs will still be here, will still be productive,
• 25:48
  Speaker 9: will still be curing cancer and a slew of other
• 25:50
  Speaker 9: ailments that plague humanity. America will still be the leader
• 25:54
  Speaker 9: in this space. But we're paying the appropriate amount, the
• 25:56
  Speaker 9: right sized amount for those tasks.
• 25:59
  Speaker 1: Now you may ask yourself this question, why is the
• 26:02
  Speaker 1: president doing this? Well, it's all in the numbers. The
• 26:06
  Speaker 1: United States has less than five percent of the world's population,
• 26:11
  Speaker 1: yet funds roughly seventy five percent of global pharmaceutical profits.
• 26:17
  Speaker 2: Here's the other thing you may not know.
• 26:19
  Speaker 1: Drug manufacturers discount their products to gain access to foreign markets,
• 26:24
  Speaker 1: and then subsidize those discounts through high prices charged in America.
• 26:29
  Speaker 2: In essence, you.
• 26:31
  Speaker 1: Are subsidizing drug manufacturer profits and foreign health systems are
• 26:36
  Speaker 1: getting the big deal, despite drug manufacturers benefiting from generous
• 26:41
  Speaker 1: research subsidies and enormous healthcare spending by the US government.
• 26:46
  Speaker 1: Now on his first term, you may not know this,
• 26:48
  Speaker 1: but President Trump took historic action to keep Medicare and
• 26:52
  Speaker 1: seniors from paying more for drugs than economically comparable countries,
• 26:58
  Speaker 1: which the Biden administration rescinded before it could even take effect.
• 27:03
  Speaker 1: Why because they're owned by Big Pharma. Instead of fixing
• 27:07
  Speaker 1: this problem, the Biden administration's greatest achievement was to negotiate
• 27:13
  Speaker 1: prices that were on average seventy eight percent higher than
• 27:19
  Speaker 1: an eleven comparable countries as part of Biden's efforts to
• 27:23
  Speaker 1: quote beat medicare in translation, the Democratic Party sold you out,
• 27:29
  Speaker 1: the Americans who are suffering and desperately need pharmaceutical drugs,
• 27:34
  Speaker 1: and they sold you out to the highest bidder, the
• 27:37
  Speaker 1: lobbyists and the companies that came in and said this
• 27:41
  Speaker 1: is what we need. The President making it clear this
• 27:45
  Speaker 1: is never going to happen again in the US and
• 27:47
  Speaker 1: as long as he is present, he is going to
• 27:50
  Speaker 1: fight for innovation, fight for technology, and make sure that
• 27:54
  Speaker 1: you are paying less than any other major nation in
• 27:58
  Speaker 1: the world. Make sure you share this podcast with your
• 28:01
  Speaker 1: family and friends, put it up on social media wherever
• 28:03
  Speaker 1: you are, and we appreciate you listening every day.
• 28:06
  Speaker 2: We'll see you back here tomorrow.