TrumpRX

Pfizer reached a deal with the Trump Administration to lower drug prices in exchange for a three-year exemption from pharmaceutical tariffs.

Context

Americans pay nearly three times more for prescription drugs than people in other developed countries. President Trump sent letters to 17 major pharmaceutical companies in July, demanding they lower their prices to match what other nations pay by September 29. The president threatened to impose 100% tariffs on drug imports if companies didn’t comply with his “Most Favored Nation” pricing policy.

Deal Details

The pharmaceutical giant secured a three-year grace period from Trump’s threatened tariffs by agreeing to substantially reduce drug prices for American consumers.