00:00U.S. President Donald Trump has threatened import restrictions to pressure foreign drug suppliers to lower prices.
00:07Speaking at the White House, he vows to cut prescription costs and warns pharmaceutical companies that face a lot of problems if they didn't comply.
00:16We're going to get the drug prices down, not 30 or 40 percent, which would be great, not 50 or 60.
00:22No, we're going to get them down 1,000 percent, 600 percent, 500 percent, 1,500 percent, numbers that are not even thought to be achievable because I've used a certain talent that I have and convinced the drug companies that you have no choice.
00:43The drug companies were selling drugs, same company, in Europe and other places, based on what Europe told them to sell them at.
00:54And they said, let America pick up the difference, and I wouldn't let it happen.
00:58His comments come over a month after signing an executive order in June, directing drug makers to align U.S. prices with those in other countries.
01:06The order gave companies a month to meet price targets or face regulatory action or import measures.
01:12Last week, Trump said he may impose tariffs on pharmaceuticals by August 1st, warning of tariffs up to 200 percent on drug imports within a year.
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