Trump Announces Plan To Send Pharmaceutical Prices SOARING

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Donald Trump announced this week that he is going to increase the cost of certain pharmaceuticals by putting a 200% tariff on prescription drugs being imported into the country. This is going to make the cost of certain drugs out of reach for potentially millions of Americans, and it will not, in any way, produce the desired results that Trump seems to think are possible. Ring of Fire’s Farron Cousins discusses this.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump announced this week during a cabinet meeting that he is in fact going to raise the price of many of your pharmaceuticals by 200%. And he is gonna do that by doing his most favorite thing in the world, which is putting tariffs on people and companies. Specifically Donald Trump says if these massive pharmaceutical companies that were founded in Europe and are based in Europe, if they don't move their companies to the United States, he's gonna put a 200% tariff on all of the pharmaceuticals coming into the country, which is going to cause costs to soar for Americans by $200 billion per year. But don't worry, because even though he has this plan in his head right now, he says he is gonna give them a year to a year and a half to comply. Here is what he said. We'll be announcing something very soon on pharmaceuticals. We're gonna give people about a year, year and a half to come in. And after that, they're gonna be tariffed. If they have to bring the pharmaceuticals into the country, the drugs and other things into the country, they're going to be tariffed at a very high rate, like 200%. We'll give them a certain period of time to get their act together.

Uh, again, a lot of these companies, they didn't start in America and then move their operations overseas 'cause it was cheaper. These are European companies that have always been based in Europe, some of them for a lot longer than I've even been alive. Like that's, that's where they live. That's where they were founded. That's where their scientists are. That's where they develop these things. They're not American companies. And Trump is demanding. You uproot yourself, come to this country and then we won't put a tariff on you. Okay? We're not dealing with Ford. We're not dealing with carrier inch, uh, uh, AC units. Those are American companies that of course have shipped production overseas that I kind of get. These are straight up European companies. You can't make demands that they leave their current country with their scientists and their workers and everything and just come here. This is utter insanity. But this time it's utter insanity that is going to cost Americans, according to Forbes, $200 billion per year. We already pay the highest pharmaceutical prices out of any country on the planet. We pay the most. And Trump is now threatening to increase those prices by

200%. Tens of millions of people will no longer be able to afford their medications. And many of them, without those daily medications, much like Trump, himself would likely die. In fact, I happen to know, because I'm on some of the same medications as Donald Trump. Uh, those are made in Europe, buddy. Like those are from European companies. So you are, you are also gonna have to pay that, not that you know, you can afford it, I guess, but uh, the rest of us might not be able to. So we could die. Cholesterol could go through the roof, blood pressure, all of it, cancer treatments and everything in between because that is what this man is doing. 'cause he has no idea what he is doing. He's a child behind the wheel of a semi that is now out of control and he is going to continue to destroy and run over and demolish every single thing in his path because he doesn't know how to stop it. But more importantly, he's enjoying the ride and he doesn't want to stop it no matter how much chaos and destruction he causes along the way.