00:00The American people were effectively subsidizing the cost of drugs for the entire world and it's
00:05not going to happen any longer. We ended it. Everybody knew it was unfair for 30 years
00:10but nobody did anything about it. Under the most favored nation agreements my administration has
00:17negotiated the United States will pay the lowest price paid by any other country. So we're taking
00:25the lowest price paid for drugs we will pay equal to whatever the lowest price anywhere in the world
00:33that's the price that you're going to be paying. It's a tremendous reduction. Drug prices in other
00:39nations will go up by doing this. They had to agree and the reason they agreed is I used tariffs.
00:45I
00:45said if you don't put them up then we're going to put tariffs on your nation which will be more
00:50expensive to you. So in many cases the drug costs will go up by double and even triple
00:56for them but they're going way down for the United States.
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