Add thelocalreport.in As A Trusted Source
A social media platform serving investors, traders and entrepreneurs mocked President Donald Trump From its official X account In a Truth Social post he claimed drug prices were falling “700%”.
Trump claimed that his administration worked to secure deals with companies last year Involved Pfizer and AstraZeneca Lowering the prices of some drugs sold in the US compared to other countries would save millions of Americans.
“Since I implemented Preferred Nation status for the United States, drug prices have been falling to levels never seen before, 500%, 600%, 700% and even more,” the president wrote on his social media platform Truth Social on Saturday.
Above a screenshot of Trump’s post, the StockTwits account wrote: “Math is hard, $DJT.”
Any amount can be reduced at any time to a maximum of 100 percent of its current value.
StockTwits was founded in 2008 by investors and analysts Howard Linzon and Soren McBeth. Linzon is critical of Trump on his own social media feeds, and in May he wrote that Trump “was selling” America goes after Qatari interests.
While Trump’s calculations are certainly wrong, the president’s announcement in late September with business leaders in the pharmaceutical industry provided a distraction.
At that time, the White House announced that “most favored nation” pricing tiers would reduce drug costs for many Americans on Medicaid. In return, the White House gave the companies relief from tariffs.
Pfizer CEO Albert Bourla The statement mentioned the deal.
“We have agreed to a three-year grace period during which Pfizer products will not face tariffs under the Section 232 investigation, provided we further invest in manufacturing in the United States,” Bourla said in a press release.
“Additionally, we have established a balanced global pricing approach that continues to recognize the value of innovation while also ensuring that prices in the U.S. and other developed countries are fair and sustainable, maintaining the strength of the U.S. market alongside other developed countries.”
The Trump administration also announced in early November that it had reached an agreement with two drugmakers to reduce the prices of popular GLP-1 diabetes drugs for Americans on Medicare and Medicaid, as well as for purchases made through the administration’s TrumpRx platform.
But the White House’s successes still pale in comparison to the cliff facing Republicans as federal subsidies for Obamacare public exchanges plans expire at the end of the year.
It is estimated that millions of Americans Will face monthly premium increase Hundreds of thousands of dollars more for larger plans in 2026, unless the administration and Congress take action to renew funding for those plans as part of the Inflation Reduction Act passed in 2022.
the White House Initially it was planned to issue a bill Renewing those subsidies for two years with new income limits, but heavy opposition house gop The caucus forced the administration postpone release of a plan Before the Thanksgiving holiday.
Now, Republicans have a month left until that deadline is met — and millions of people are set to see huge increases in health care premiums less than 12 months before the midterm elections.