May 17, 2025 • 30 mins
🏛️ Legislative Setback: The “Big Beautiful Bill”
- The House Budget Committee voted down a major budget reconciliation bill championed by Donald Trump.
- The bill was rejected due to opposition from conservative Republicans who felt it didn’t go far enough in advancing Trump’s agenda.
- Key concerns included:
- Front-loaded tax cuts and spending with delayed savings.
- Delayed reforms that might be repealed before implementation.
- Lack of trust in moderate Republicans ("RINOs").
- Despite the setback, Trump and his allies remain optimistic, framing it as a temporary roadblock and emphasizing ongoing negotiations.
🌐 International Achievements
- The document highlights several foreign policy and trade accomplishments claimed by the Trump administration:
- A new UK trade deal.
- A China trade agreement reducing tariffs significantly.
- Ceasefires negotiated with India and Pakistan, and the Houthis.
- The release of an American hostage from Gaza.
💊 Prescription Drug Reform
- Trump announced sweeping reforms aimed at reducing prescription drug prices in the U.S.
- Key points include:
- Ending the U.S. subsidization of foreign healthcare through inflated drug prices.
- Implementing a “Most Favored Nation” pricing model to ensure Americans pay the lowest global price for medications.
- Criticism of Big Pharma and foreign countries for exploiting the U.S. market.
- Emphasis on reducing bankruptcies caused by high medical costs.
📈 Economic and Trade Policy
- The China deal is portrayed as a major win, with tariffs dropping and commitments to open Chinese markets to U.S. goods.
- The administration frames this as a reversal of the failures of previous administrations, particularly the Biden administration.
- The narrative emphasizes Trump’s strength in negotiations and his vision for rebalancing global trade.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
I want to start with some breaking news.
Speaker 2 (00:03):
The House Budget Committee has just voted down what Donald
Trump described as the big Beautiful Bill.
Speaker 1 (00:11):
Now the question is why they are.
Speaker 2 (00:13):
Seeking more quote conservative reforms. The House Budget Committee voted
down the Budget Reconciliation Bill just after noon on Friday,
in a temporary roadblock for President Donald Trump's bill that
he says we need to get it done.
Speaker 1 (00:30):
The defeat of the bill.
Speaker 2 (00:31):
Is another expected, if unnecessary bump and the often messy
negotiating process of a massive piece of legislation. And this
is something I want you to understand. I'm not that
surprised over it. It would have been great to get
this thing done quickly and just move it through. The
chance of that happening based on what I was told,
(00:52):
we're probably about five percent, So this is a speedbump.
I want to be clear. And the media is going
to want to dunk on this. I do not believe
this is going to derail the agenda of Donald Trump
or the quote big beautiful bill. I just want to
be clear now. It is not the headline that we wanted,
all right. This is one that we I think the
(01:14):
Republicans should have tried to avoid and putting it in context,
this is one of those moments where the Democrats and
the media, they're going to dunk on it big. All right, now,
let me give you the background on this so you understand.
Conservatives on the committee made it clear before the committee
markup of the bill that they were against the bill
in its current form, stating that it felt short of
(01:37):
fully realizing Donald Trump's transformative agenda. Quote unquote, Speaker Mike
Johnson chose to go ahead with the scheduled markup of
this bill. Some thought that was a bad idea. We'll
see how it plays out. So then fast forward to
Friday four, Conservatives, along with another Republican who changes vote
(01:58):
for procedural reason, oppose the bill, which.
Speaker 1 (02:02):
Went down sixteen to twenty one.
Speaker 2 (02:05):
You had Representative from Texas, Chip Roy, you had Ralph
Norman from South Carolina.
Speaker 1 (02:12):
You had Josh Rattin.
Speaker 2 (02:14):
A Republican from Oklahoma, and you had Andrew Clyde, a
Republican from South Carolina that all jumped on board to
say we're going to stop this now. House conservatives requested
more changes in order to make a bigger, more beautiful bill,
is the way they described it. Their concerns varied from
spending and taxes to Second Amendment provisions, but they also
(02:36):
raised concerns that many of the reforms in the legislation
were postponed for years and would likely be eliminated in
future legislation before they could even take effect. Chip Roy
putting out tweets saying, quote, why there's a problem. The
House bill front loads tax cuts and spending and then
backloads the savings.
Speaker 1 (02:58):
And he had a chart that he put.
Speaker 2 (03:00):
It up, basically saying that we wouldn't get the best
effects of this until twenty thirty and that's not what
the American people actually voted for. Now, the committee has
not expected to meet again, according to House Budget Committee
Chairman Jody R.
Speaker 1 (03:15):
Arrington.
Speaker 2 (03:16):
He's a Republican from Texas who voted to vance the
bill despite agreeing with the no votes that the bill
must be improved before final passage on the House floor,
a sentiment shared by other Republicans also on the committee.
But the four Conservatives on the House Freedom Caucus one
of these changes made sooner rather than later, because well,
they don't trust the rhinos. I understand that, Okay, the
(03:39):
rhinos they always will screw you at the last moment.
Especially when you're trying to get a deal done. So
I get them saying we want it on the front end.
I understand the thinking here and I want you to
understand that as well. They said, despite voting no, they
remain willing to work towards a quote compromise, saying this,
we are continuing to negotiate. That is what a spokesman
(03:59):
for the House Freedom Caucus said.
Speaker 1 (04:03):
We are not leaving right now.
Speaker 2 (04:05):
We have been making progress and are continuing our work
on the legislation. The House Freedom canc is putting out
this statement on Twitter saying, and I'm going to quote
it exactly so you understand their viewpoints ad quote. Representatives
Roy Norman, Rachel Claude and others continue to work in
good faith to enact President's big beautiful bill quote unquote.
(04:25):
We were making progress before the vote and the Budget
Committee and will continue negotiations to further improve the reconciliation package.
We are not going anywhere, and we will continue to
work through the weekend, meaning obviously right now.
Speaker 1 (04:39):
So when you look at this and what we under
what we.
Speaker 2 (04:42):
Understand now is look, I think Trump's frustrated by this,
but this will overcome, and they will figure it out
and they will do it now. Trump posted on true
Social Friday morning, saying this quote, Republicans must unite behind.
Speaker 1 (04:57):
The one big, beautiful bill.
Speaker 2 (05:00):
Not only does it cut taxes for all Americans, but
it will kick millions of illegal aliens off of Medicaid
to protect it for those who are the ones in
real need. The country will suffer greatly without this legislation,
with their taxes going up sixty five percent. It will
be blamed on Democrats, but that doesn't help our voters.
(05:22):
We don't need grand standards in the Republican Party. Stop
talking and get it done. It's time to fix the
mess that Biden the Democrats gave us.
Speaker 1 (05:31):
So that was what he said on true Social. Now.
Trump's urgency is understandable.
Speaker 2 (05:36):
His team has continued to work with members of Congress
as the process moves forward, is what the White House
said Friday afternoon. The ultimate ambitious goal of sending a
bill to Trump's desk by July fourth remains achievable, is
what the White House is saying as well now. Before
Friday's vote, Mike Lee told Breitbart News exclusively that the
(05:56):
legislative process isn't easy, but that report Publicans working to
make further changes to the bill are doing so to
ensure it advances what Trump is laid out and what
needs to be done that both he and those who
elected him have quote demanded. So you can understand the
kind of more of the background on this. There are
(06:17):
some things that we need to address as we advance
legislation in order to advance President Donald Trump's agenda in
order to advance what he has laid out as what
needs to be done that both he and those who
elected him have demanded.
Speaker 1 (06:31):
Is what Lee also went on to say.
Speaker 2 (06:33):
Now, despite this setback, all right, I want to be
clear before the media punks you and lies to you.
I have no doubt the House will eventually pass this
bill in a form that will probably better than what
it is today, all right. I have no doubt that
negotiations are likely to continue throughout the weekend based on
(06:54):
the members that I've talked to. Now, once the Budget
Committee passes the bill, then this big, beautiful bill has
another big hurdle. It has the Senate, okay, and the
Senate must consider it where further changes are likely to
be made, which would necessitate House passage of the Senate
amended bill or more likely a conference committee for further negotiations.
Speaker 1 (07:16):
So again, the President wants this by July fourth.
Speaker 2 (07:20):
He wants to have a big moment July fourth talking
about what he has done for the American people. And
that's really important. That's a good thing. It's something that
the president has on his calendar. And look, I like
having a timeline of getting things done. I think it's
important that we get things done in a timely manner.
Speaker 1 (07:40):
And if we don't get things done a.
Speaker 2 (07:42):
Timely manner, then what you end up having is things
fall through the cracks, right, and we don't get things
done the way we want them done, and then we
stall out and then before we know, it's the midterms
and we got nothing done.
Speaker 1 (07:53):
That is the biggest concern that I have here.
Speaker 2 (07:56):
Like, that's the biggest problem that I have, is that
we can end up in that scenario, that situation. So
to recap for you, I want to be clear, I
don't think this is doom and gloom. I think more
than like, we were probably going to get a better
deal done than we would have before. That's a huge bonus.
(08:16):
That's something that we should all be very excited about.
Speaker 1 (08:20):
So I want to be clear. That's number one.
Speaker 2 (08:23):
Number two, I think the President putting pressure on them
to work through the weekend is a smart political move.
It is a move that he understands. I don't want
you going home. I don't want this thing to stall.
I don't want this thing to linger. I want to
get it done. So that's part two that I think
also is extremely important here. And finally, let me just
(08:44):
put it this way. The idea that this big, beautiful
bill was just going to run through Congress, I think
was a great idea in theory.
Speaker 1 (08:52):
I don't believe it was.
Speaker 2 (08:54):
Ever going to be reality, and I think that's what
we're witnessing now. And look, the pent hates it when
they drag their feet. There's a lot of people that
are doing a lot of things on this bill, and
there are a lot of Rhinos that are gonna want
things in this bill, and it's gonna get complicated.
Speaker 1 (09:09):
I don't think it's going to be the last hurdle.
Speaker 2 (09:12):
But I also do think that the American people have
a mandate on Congress to actually get it done. And
I do think that's part of the important part here
is that. So I'm going to keep you updated on it.
We're gonna watch it throughout the weekend for you that
I can promise you. We have got a lot that
has happened at the White House. In fact, and just
the last week, President Trump has secured a UK trade deal,
(09:35):
which is already old news. We now have this China
trade deal. We have the release of an American hostage.
We have the ceasefire with India and Pakistan, and a
ceasefire with the Hoho Thies. And where's the media obsessing
over well, saying that Donald Trump's deal with China may
not actually work out. And that's what you should really
be focusing on. White House press singer Terry coming out
(09:57):
on Fox and Friends Monday morning saying the state for
all of this, saying this.
Speaker 3 (10:02):
Told you the next one hundred days would consist of
peace deals in trade deals, and that's exactly what we
have seen. The President announced last week the big trade
deal with the UK, as you mentioned. Now we have
a first deal with China. Just yesterday, the President announced
the release of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(10:23):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceasefire with India and Pakistan. This is
all in the last week. President Trump and his team
are working incredibly hard on behalf of the country and
the world to secure peace deals, in trade deals, and
don't forget, we have a tax deal coming too. The
(10:45):
administration is working with Capitol Hills to sign the largest
tax cuts in American history.
Speaker 2 (10:50):
Right now, you listen to this White House and time
and time again, this administration is telling you what they're
going to do, says it's impossible, it cannot happen, and
then they pay off on it and they do it.
You look at the president right now on the issue
of China. Just this week, I was on CNN and
(11:11):
one of the people from the view in Navarro most
of views she's on CNN, she's like, and another expert
quote unquote expert when it comes to the economy we're on.
They're like, well, there's a very good chance these trade
deals won't even get done this year. And I'm like,
that's not true, that's absolutely not true. And I fought
back hard because they're just lying and they're like, well,
the American people can't handle these trade deals and there's
(11:33):
gonna be empty shelves because this is going.
Speaker 1 (11:35):
To drag on into next year.
Speaker 2 (11:37):
Well, what happened with China here is part of what
the White House said about that.
Speaker 4 (11:41):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five to one five respectively to.
Speaker 5 (11:50):
Thirty and ten.
Speaker 3 (11:53):
This is an extraordinary first step in the right direction,
and thanks to the strength of President Seump, Secretary Besant,
Ambassador Greer, we're able to cut this initial deal with China.
China agreed to reduce their tariffs on the United States
by one hundred and fifteen percent. They also agreed to
continue having discussions about opening Chinese markets to American made
(12:15):
products and goods. And they also agreed to continue seriously
discussing the grave impact that Chinese produced fetanol is having
right here in the United States and our people. So
this is a great first step for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China so we can hopefully
inevitably get to a fair and comprehensive, big trade deal.
Speaker 2 (12:38):
So yet again what the media and the Laft set
was impossible has become a reality. President Trump also on
Monday saying this about China and the.
Speaker 4 (12:47):
Deal, and they've agreed to open China, fully open China.
And I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be.
Speaker 5 (12:57):
Great for unification and peace.
Speaker 4 (13:00):
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
But again, to me, the biggest thing that came out
of that meeting.
Speaker 5 (13:12):
Is they've agreed.
Speaker 4 (13:13):
Now we have to get it papered, but they've agreed
to open up China.
Speaker 5 (13:16):
Its going to be great for everybody.
Speaker 2 (13:18):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we've got to let them understand. They've
been taking avantage of us. They know that we're not
going to let them keep doing it. They know that,
so let's do a better deal for both nations. And so,
as you described what happened Geneva. Here's what he said
(13:39):
with more details.
Speaker 4 (13:42):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agreed to
reduce the tariffs and post after April twod to ten
percent for ninety days, as negotiators continue in the larger
structural issues.
Speaker 5 (14:02):
And I want to tell you that a couple of things.
Speaker 4 (14:05):
First of all, that doesn't include the tariffs that are
already on that are our tariffs. And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed.
Speaker 5 (14:18):
On pharmaceuticals, because we.
Speaker 4 (14:20):
Want to bring the pharmaceutical businesses back to the United
States and they're already starting to come back now based
on tariffs.
Speaker 2 (14:28):
So let me walk you through where we were and
where we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement, signed January the fifteenth.
Speaker 1 (14:46):
Of twenty twenty.
Speaker 2 (14:47):
All right, Phase one the agreement back then aimed to
ease trade tensions between the US and China, that it escalated.
They claim since twenty eighteen, China commitments were to increase
the purchase of US goods and serve This is by
two hundred billion over twenty twenty twenty twenty one compared
to quote twenty seventeen levels.
Speaker 1 (15:06):
Guess what happened. They didn't do that.
Speaker 2 (15:07):
They also claimed they were going to enhance intellectual property protections.
Speaker 1 (15:10):
They didn't do it.
Speaker 2 (15:12):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 1 (15:20):
They lied.
Speaker 2 (15:20):
They are currency they do currency manipulation all the time.
Speaker 1 (15:25):
They didn't do it.
Speaker 2 (15:25):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime.
Speaker 1 (15:32):
They said they were going.
Speaker 2 (15:33):
To improve access for US financial services firms. All of
that was a lie. None of it worked. So you
now look and you move forward from there. Right, they
were lying. They're taking advantage of us. They have tars
on our stuff. They don't look our stuff going to
their country. You move forward to twenty twenty five May
the twelve, and here's what we now know there was
this trade tension. They took advantage of us. The President
(15:56):
said no more, and he said we're done. We're gonna
basically put imports to one hundred and forty five percent.
You now see where we are today on the twelfth,
and the US tariffs on Chinese imports are gone from
one hundred and forty five percent to down to thirty percent.
Chinese tariffs on US goods have been reduced from one
(16:16):
hundred and twenty five percent to ten percent, and the
reductions are set for ninety day periods, during which they
say further negotiations will continue. Global stock markets what do
they do? They didn't listen to media or the left
or the Democrats. They surge with significant games and major indexes.
The US dollar also strengthened, and commodity price including crude oil,
(16:40):
rows significantly. While the agreement is seen as a quote
positive step, experts quote caution it may be temporary fixed
without addressing underlying issues. That's the economic times. Again, you
cannot trust the media and how they're doing this. So
what is the takeaway from this? The takeaway is pretty simple.
(17:01):
US China trade the relations are seeing a significant development
in favor of the US. China needs America more than
we need China, is what they are now signaling. They
were going to have major economic problems in China. That's
the reason why they decide to come forward and do
this deal now. And look, if you listen to what
(17:22):
those around the president said about this deal, President Trump
outlining a vision they said for rebranding and rebalancing global trade.
I want you to hear what Scotts said had to say.
Speaker 1 (17:35):
Take a listen.
Speaker 6 (17:36):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination. It can be terrorists, but again it is
the administration moving as quickly as possible to make sure
that we are self sufficient in the strategic industries.
Speaker 7 (17:57):
I think that's completely understandable from the United States side.
And I want to miss the secretary whether the Chinese
understood that. Did you get the sense they do understand
that will be the road forward for the United States.
Speaker 6 (18:11):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year. It didn't happen there before. It's happened
over decades, and that this happened, hal excuse me, has
(18:32):
to be remedied. The China shock gutted our manufacturing sector,
and we want to bring that back on the other side.
Speaker 5 (18:41):
Party Chair.
Speaker 6 (18:42):
She has said that he would like to increase consumption,
but to date the Chinese have just increased manufacturing. So
we would like to see them increase consumption. We would
like to see them open their market to American products.
So there are two ways to rebalance. One is fewer
(19:03):
Chinese goods in the US market. The other is more
American goods in the Chinese market. And my guess is
that the answer is somewhere in between.
Speaker 2 (19:15):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(19:38):
I mentioned earlier that China ignored and broke virtually everything
from twenty twenty to twenty twenty four that we had
had in agreements before them, currency, manipulation. Laugh in our
face is a great example of that. Second Trader Secretary
Bassett also said this about China and why they were
able to get away with ignoring the trade agreement that
(19:59):
was set up by Trump in twenty sixteen through twenty twenty,
that Joe Biden inherited that they just they didn't care
because they knew Joe Biden was weak.
Speaker 1 (20:07):
They owned him.
Speaker 2 (20:08):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 1 (20:19):
They knew they didn't have to play by the rules.
Speaker 6 (20:22):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 1 (20:31):
We had an excellent.
Speaker 6 (20:33):
Trade agreement with China, and the Biden administration chose.
Speaker 5 (20:39):
Not to enforce it.
Speaker 6 (20:41):
The Chinese delegation basically told us that once President Biden
came into office, they just ignored their obligations. So we
all already have a large framework. The other thing to
remember here, Jonathan, is that this is a pause down
to ten percent. The April second level for China is
(21:03):
thirty four percent, so we will be working to see
where their final reciprocal number ends up. And the negotiations
are a combination of tariffs, non tariff, trade barriers, currency manipulation,
and subsidies of labor and capital.
Speaker 2 (21:25):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(21:49):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same thing with
the what we just talked about with China, but now
this applies to to us and to what we're dealing
with with prescription drug prices that are clearly out of control.
Take a listen to the President talking about this at
(22:12):
the White House. Are saying we are no longer to
be taken advantage of, and the rest of the world
is going to have to pay their fair share, and
we're not going to subsidize these companies.
Speaker 4 (22:21):
But starting today, the United States will no longer subsidize
the healthcare of foreign countries, which is what we were doing.
We're subsidizing others healthcare countries where they paid a small
fraction of what for the same drug that.
Speaker 5 (22:36):
What we pay many, many times and more for.
Speaker 4 (22:39):
And we're no longer tolerate profiteering and price gouging from
big pharma. But again, it was really the countries that
forced big pharma to do things that frankly, I'm not
sure they really felt comfortable doing. But they've gotten away
with it these countries. European Union has been brutal, and
(22:59):
the drug companies actually told me, sir as, it was
just brutal how they force them. And European Union suing
all our companies Apple, Google, Meta, they're suing all of
our companies.
Speaker 5 (23:12):
They end up they have judges that are.
Speaker 4 (23:16):
European Union centric and they get rewarded fifteen billion, seventeen billion,
twenty billion, and they use that to run their operation.
Speaker 2 (23:30):
Not going to happen any longer that I can tell you,
not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you, the American people, Yes, how do
we know it.
Speaker 1 (23:44):
Here's the president on that.
Speaker 4 (23:46):
So for the first time in many years, we'll slash
the costs of prescription.
Speaker 5 (23:49):
Drugs, and we will bring fairness to America. Drug prices
will come down by much more.
Speaker 4 (23:55):
Really, if you think fifty nine, if you think of
a drug that is sometimes ten times more expensive, it's
much more than the fifty nine percent. You know, it
depends on the way you want to analyze it. But
in one way, you could analyze it that way. But
between fifty nine and eighty and I guess even ninety percent.
So when I worked so hard in the first term,
(24:17):
and if I got prices down, I remember I was
the only one to ever get prices down for a
full year.
Speaker 5 (24:23):
But I get them down like.
Speaker 4 (24:24):
Two percent, and I thought it was like a big deal.
Well we're getting them down sixty seventy eighty ninety percent,
But actually more than that if you think about it
in the way mathematically, and Farmer has to say, we're sorry,
but we'll not be able to do this any longer.
To these to these countries that have been so tough,
(24:46):
they've been very tough, nasty. It's trade. It's trade, and
Farmer is also very powerful, and the Democrats have protected farmer.
Speaker 2 (24:56):
And look, the President wasn't done there, as he explained
to the America people. And this is good for everyone.
This is not a political statement the present's making. He's
talking about how much more we are paying then other
countries are paying for the same drugs made in the
same pharmaceutical labs. The same damn pill in the same
place comes off the line, and it goes to one
(25:17):
country and they pay ten cents on the dollar compared
to the US.
Speaker 1 (25:21):
It's wrong.
Speaker 4 (25:22):
So today Americans spend seventy percent more for prescription drugs
that we spent in the year two thousand.
Speaker 5 (25:29):
Think of that our.
Speaker 4 (25:31):
Country has the highest drug prices anywhere in the world
by sometimes a factor of five, six seven, eight times.
It's not like they're slightly higher that six seven eight times.
There are even cases of ten times higher, so that
you go ten times more expensive for the same drug.
Speaker 5 (25:48):
That's big numbers.
Speaker 4 (25:50):
Even though the United States is home to only four
percent of the world's population, pharmaceutical companies make more than
two thirds of their profits. In America, with four percent
of the population, the pharmaceutical companies make most of their money.
Speaker 5 (26:06):
Most of their profits from America. That's not a good thing. Now.
Speaker 4 (26:11):
I think, by the way pharmaceutical I have great respect
for these companies and for the people that run them.
Speaker 5 (26:16):
I really do, and I think they did one of
the greatest jobs.
Speaker 4 (26:19):
In history for their company, convincing people for many years
that this was a fair system. Never nobody really understood why,
but I figured it out. For years, pharmaceutical and drug
companies have said that research and development costs were what
they are for no reason whatsoever.
Speaker 5 (26:41):
They had to be borne by America alone. Not anymore.
Speaker 2 (26:46):
They don't, not anymore, they don't the present saying we're
going to most favored nation prescription drug pricing. This is
where it's going to affect you in your bottom line
when you go shop for drugs that you need.
Speaker 1 (27:02):
And here is how that's going to work.
Speaker 4 (27:04):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price. That's the
price that we're going to get. So remember that. So
we're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price we're
(27:25):
going to pay most favored nations.
Speaker 5 (27:29):
That's what it is.
Speaker 4 (27:31):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one
(27:52):
tenth for the identical product. A common asthma drug costs
almost five hundred dollars here in America, but costs less
than forty dollars in the United Kingdom. So forty dollars
in the United Kingdom, which is where this gentleman told
me he paid a small amount for his shot. But
(28:15):
think of that, So forty dollars versus five hundred dollars.
Speaker 2 (28:20):
Here, forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly,
this should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
(28:40):
problems is when it comes to us is we have
so many people that are filing bankruptcy, so many Americans
that are that are filing bankruptcy because of these incredibly
high prices. This is a historic day for the president.
It's a historic day, by the way, for the American people.
It's something we should all be so excited about because
(29:02):
we finally have a president that is saying no more
to bankruptcy because of people that are having to mortgage
their homes and second mortgage and third mortgage to pay
for life saving pills that other countries are paying payings
on the dollar for. It's exactly, by the way, what
the NIH director had to say.
Speaker 8 (29:19):
I firmly believe in research and development for drugs. I mean,
it's part of the NIH mission to look for fundamental
biological advances that develop in better treatments. But why should
it only be American taxpayers that pay for that. What
President Trump is doing is saying enough, let's have a
broader base of support for this research mission. It's actually
(29:40):
pro in some ways pro pharmas because it's going to
expand the set of of sort of stakeholders to include
Europeans as well for the support of R and D,
while at the same time protecting American taxpayers from having
to pay such high prices for drugs. I mean, we
have patients going bankrupt over hy high health bills.
Speaker 2 (30:00):
We have a going bankrupt and the present's trying to
stop that. Don't forget we do this show every day,
so make sure you hit that subscribe or auto download
button so you don't miss any of the interviews we do,
especially with members of the administration. And I'll see you
back here tomorrow morning.
I want to start with some breaking news.
Speaker 2 (00:03):
The House Budget Committee has just voted down what Donald
Trump described as the big Beautiful Bill.
Speaker 1 (00:11):
Now the question is why they are.
Speaker 2 (00:13):
Seeking more quote conservative reforms. The House Budget Committee voted
down the Budget Reconciliation Bill just after noon on Friday,
in a temporary roadblock for President Donald Trump's bill that
he says we need to get it done.
Speaker 1 (00:30):
The defeat of the bill.
Speaker 2 (00:31):
Is another expected, if unnecessary bump and the often messy
negotiating process of a massive piece of legislation. And this
is something I want you to understand. I'm not that
surprised over it. It would have been great to get
this thing done quickly and just move it through. The
chance of that happening based on what I was told,
(00:52):
we're probably about five percent, So this is a speedbump.
I want to be clear. And the media is going
to want to dunk on this. I do not believe
this is going to derail the agenda of Donald Trump
or the quote big beautiful bill. I just want to
be clear now. It is not the headline that we wanted,
all right. This is one that we I think the
(01:14):
Republicans should have tried to avoid and putting it in context,
this is one of those moments where the Democrats and
the media, they're going to dunk on it big. All right, now,
let me give you the background on this so you understand.
Conservatives on the committee made it clear before the committee
markup of the bill that they were against the bill
in its current form, stating that it felt short of
(01:37):
fully realizing Donald Trump's transformative agenda. Quote unquote, Speaker Mike
Johnson chose to go ahead with the scheduled markup of
this bill. Some thought that was a bad idea. We'll
see how it plays out. So then fast forward to
Friday four, Conservatives, along with another Republican who changes vote
(01:58):
for procedural reason, oppose the bill, which.
Speaker 1 (02:02):
Went down sixteen to twenty one.
Speaker 2 (02:05):
You had Representative from Texas, Chip Roy, you had Ralph
Norman from South Carolina.
Speaker 1 (02:12):
You had Josh Rattin.
Speaker 2 (02:14):
A Republican from Oklahoma, and you had Andrew Clyde, a
Republican from South Carolina that all jumped on board to
say we're going to stop this now. House conservatives requested
more changes in order to make a bigger, more beautiful bill,
is the way they described it. Their concerns varied from
spending and taxes to Second Amendment provisions, but they also
(02:36):
raised concerns that many of the reforms in the legislation
were postponed for years and would likely be eliminated in
future legislation before they could even take effect. Chip Roy
putting out tweets saying, quote, why there's a problem. The
House bill front loads tax cuts and spending and then
backloads the savings.
Speaker 1 (02:58):
And he had a chart that he put.
Speaker 2 (03:00):
It up, basically saying that we wouldn't get the best
effects of this until twenty thirty and that's not what
the American people actually voted for. Now, the committee has
not expected to meet again, according to House Budget Committee
Chairman Jody R.
Speaker 1 (03:15):
Arrington.
Speaker 2 (03:16):
He's a Republican from Texas who voted to vance the
bill despite agreeing with the no votes that the bill
must be improved before final passage on the House floor,
a sentiment shared by other Republicans also on the committee.
But the four Conservatives on the House Freedom Caucus one
of these changes made sooner rather than later, because well,
they don't trust the rhinos. I understand that, Okay, the
(03:39):
rhinos they always will screw you at the last moment.
Especially when you're trying to get a deal done. So
I get them saying we want it on the front end.
I understand the thinking here and I want you to
understand that as well. They said, despite voting no, they
remain willing to work towards a quote compromise, saying this,
we are continuing to negotiate. That is what a spokesman
(03:59):
for the House Freedom Caucus said.
Speaker 1 (04:03):
We are not leaving right now.
Speaker 2 (04:05):
We have been making progress and are continuing our work
on the legislation. The House Freedom canc is putting out
this statement on Twitter saying, and I'm going to quote
it exactly so you understand their viewpoints ad quote. Representatives
Roy Norman, Rachel Claude and others continue to work in
good faith to enact President's big beautiful bill quote unquote.
(04:25):
We were making progress before the vote and the Budget
Committee and will continue negotiations to further improve the reconciliation package.
We are not going anywhere, and we will continue to
work through the weekend, meaning obviously right now.
Speaker 1 (04:39):
So when you look at this and what we under
what we.
Speaker 2 (04:42):
Understand now is look, I think Trump's frustrated by this,
but this will overcome, and they will figure it out
and they will do it now. Trump posted on true
Social Friday morning, saying this quote, Republicans must unite behind.
Speaker 1 (04:57):
The one big, beautiful bill.
Speaker 2 (05:00):
Not only does it cut taxes for all Americans, but
it will kick millions of illegal aliens off of Medicaid
to protect it for those who are the ones in
real need. The country will suffer greatly without this legislation,
with their taxes going up sixty five percent. It will
be blamed on Democrats, but that doesn't help our voters.
(05:22):
We don't need grand standards in the Republican Party. Stop
talking and get it done. It's time to fix the
mess that Biden the Democrats gave us.
Speaker 1 (05:31):
So that was what he said on true Social. Now.
Trump's urgency is understandable.
Speaker 2 (05:36):
His team has continued to work with members of Congress
as the process moves forward, is what the White House
said Friday afternoon. The ultimate ambitious goal of sending a
bill to Trump's desk by July fourth remains achievable, is
what the White House is saying as well now. Before
Friday's vote, Mike Lee told Breitbart News exclusively that the
(05:56):
legislative process isn't easy, but that report Publicans working to
make further changes to the bill are doing so to
ensure it advances what Trump is laid out and what
needs to be done that both he and those who
elected him have quote demanded. So you can understand the
kind of more of the background on this. There are
(06:17):
some things that we need to address as we advance
legislation in order to advance President Donald Trump's agenda in
order to advance what he has laid out as what
needs to be done that both he and those who
elected him have demanded.
Speaker 1 (06:31):
Is what Lee also went on to say.
Speaker 2 (06:33):
Now, despite this setback, all right, I want to be
clear before the media punks you and lies to you.
I have no doubt the House will eventually pass this
bill in a form that will probably better than what
it is today, all right. I have no doubt that
negotiations are likely to continue throughout the weekend based on
(06:54):
the members that I've talked to. Now, once the Budget
Committee passes the bill, then this big, beautiful bill has
another big hurdle. It has the Senate, okay, and the
Senate must consider it where further changes are likely to
be made, which would necessitate House passage of the Senate
amended bill or more likely a conference committee for further negotiations.
Speaker 1 (07:16):
So again, the President wants this by July fourth.
Speaker 2 (07:20):
He wants to have a big moment July fourth talking
about what he has done for the American people. And
that's really important. That's a good thing. It's something that
the president has on his calendar. And look, I like
having a timeline of getting things done. I think it's
important that we get things done in a timely manner.
Speaker 1 (07:40):
And if we don't get things done a.
Speaker 2 (07:42):
Timely manner, then what you end up having is things
fall through the cracks, right, and we don't get things
done the way we want them done, and then we
stall out and then before we know, it's the midterms
and we got nothing done.
Speaker 1 (07:53):
That is the biggest concern that I have here.
Speaker 2 (07:56):
Like, that's the biggest problem that I have, is that
we can end up in that scenario, that situation. So
to recap for you, I want to be clear, I
don't think this is doom and gloom. I think more
than like, we were probably going to get a better
deal done than we would have before. That's a huge bonus.
(08:16):
That's something that we should all be very excited about.
Speaker 1 (08:20):
So I want to be clear. That's number one.
Speaker 2 (08:23):
Number two, I think the President putting pressure on them
to work through the weekend is a smart political move.
It is a move that he understands. I don't want
you going home. I don't want this thing to stall.
I don't want this thing to linger. I want to
get it done. So that's part two that I think
also is extremely important here. And finally, let me just
(08:44):
put it this way. The idea that this big, beautiful
bill was just going to run through Congress, I think
was a great idea in theory.
Speaker 1 (08:52):
I don't believe it was.
Speaker 2 (08:54):
Ever going to be reality, and I think that's what
we're witnessing now. And look, the pent hates it when
they drag their feet. There's a lot of people that
are doing a lot of things on this bill, and
there are a lot of Rhinos that are gonna want
things in this bill, and it's gonna get complicated.
Speaker 1 (09:09):
I don't think it's going to be the last hurdle.
Speaker 2 (09:12):
But I also do think that the American people have
a mandate on Congress to actually get it done. And
I do think that's part of the important part here
is that. So I'm going to keep you updated on it.
We're gonna watch it throughout the weekend for you that
I can promise you. We have got a lot that
has happened at the White House. In fact, and just
the last week, President Trump has secured a UK trade deal,
(09:35):
which is already old news. We now have this China
trade deal. We have the release of an American hostage.
We have the ceasefire with India and Pakistan, and a
ceasefire with the Hoho Thies. And where's the media obsessing
over well, saying that Donald Trump's deal with China may
not actually work out. And that's what you should really
be focusing on. White House press singer Terry coming out
(09:57):
on Fox and Friends Monday morning saying the state for
all of this, saying this.
Speaker 3 (10:02):
Told you the next one hundred days would consist of
peace deals in trade deals, and that's exactly what we
have seen. The President announced last week the big trade
deal with the UK, as you mentioned. Now we have
a first deal with China. Just yesterday, the President announced
the release of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(10:23):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceasefire with India and Pakistan. This is
all in the last week. President Trump and his team
are working incredibly hard on behalf of the country and
the world to secure peace deals, in trade deals, and
don't forget, we have a tax deal coming too. The
(10:45):
administration is working with Capitol Hills to sign the largest
tax cuts in American history.
Speaker 2 (10:50):
Right now, you listen to this White House and time
and time again, this administration is telling you what they're
going to do, says it's impossible, it cannot happen, and
then they pay off on it and they do it.
You look at the president right now on the issue
of China. Just this week, I was on CNN and
(11:11):
one of the people from the view in Navarro most
of views she's on CNN, she's like, and another expert
quote unquote expert when it comes to the economy we're on.
They're like, well, there's a very good chance these trade
deals won't even get done this year. And I'm like,
that's not true, that's absolutely not true. And I fought
back hard because they're just lying and they're like, well,
the American people can't handle these trade deals and there's
(11:33):
gonna be empty shelves because this is going.
Speaker 1 (11:35):
To drag on into next year.
Speaker 2 (11:37):
Well, what happened with China here is part of what
the White House said about that.
Speaker 4 (11:41):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five to one five respectively to.
Speaker 5 (11:50):
Thirty and ten.
Speaker 3 (11:53):
This is an extraordinary first step in the right direction,
and thanks to the strength of President Seump, Secretary Besant,
Ambassador Greer, we're able to cut this initial deal with China.
China agreed to reduce their tariffs on the United States
by one hundred and fifteen percent. They also agreed to
continue having discussions about opening Chinese markets to American made
(12:15):
products and goods. And they also agreed to continue seriously
discussing the grave impact that Chinese produced fetanol is having
right here in the United States and our people. So
this is a great first step for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China so we can hopefully
inevitably get to a fair and comprehensive, big trade deal.
Speaker 2 (12:38):
So yet again what the media and the Laft set
was impossible has become a reality. President Trump also on
Monday saying this about China and the.
Speaker 4 (12:47):
Deal, and they've agreed to open China, fully open China.
And I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be.
Speaker 5 (12:57):
Great for unification and peace.
Speaker 4 (13:00):
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
But again, to me, the biggest thing that came out
of that meeting.
Speaker 5 (13:12):
Is they've agreed.
Speaker 4 (13:13):
Now we have to get it papered, but they've agreed
to open up China.
Speaker 5 (13:16):
Its going to be great for everybody.
Speaker 2 (13:18):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we've got to let them understand. They've
been taking avantage of us. They know that we're not
going to let them keep doing it. They know that,
so let's do a better deal for both nations. And so,
as you described what happened Geneva. Here's what he said
(13:39):
with more details.
Speaker 4 (13:42):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agreed to
reduce the tariffs and post after April twod to ten
percent for ninety days, as negotiators continue in the larger
structural issues.
Speaker 5 (14:02):
And I want to tell you that a couple of things.
Speaker 4 (14:05):
First of all, that doesn't include the tariffs that are
already on that are our tariffs. And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed.
Speaker 5 (14:18):
On pharmaceuticals, because we.
Speaker 4 (14:20):
Want to bring the pharmaceutical businesses back to the United
States and they're already starting to come back now based
on tariffs.
Speaker 2 (14:28):
So let me walk you through where we were and
where we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement, signed January the fifteenth.
Speaker 1 (14:46):
Of twenty twenty.
Speaker 2 (14:47):
All right, Phase one the agreement back then aimed to
ease trade tensions between the US and China, that it escalated.
They claim since twenty eighteen, China commitments were to increase
the purchase of US goods and serve This is by
two hundred billion over twenty twenty twenty twenty one compared
to quote twenty seventeen levels.
Speaker 1 (15:06):
Guess what happened. They didn't do that.
Speaker 2 (15:07):
They also claimed they were going to enhance intellectual property protections.
Speaker 1 (15:10):
They didn't do it.
Speaker 2 (15:12):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 1 (15:20):
They lied.
Speaker 2 (15:20):
They are currency they do currency manipulation all the time.
Speaker 1 (15:25):
They didn't do it.
Speaker 2 (15:25):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime.
Speaker 1 (15:32):
They said they were going.
Speaker 2 (15:33):
To improve access for US financial services firms. All of
that was a lie. None of it worked. So you
now look and you move forward from there. Right, they
were lying. They're taking advantage of us. They have tars
on our stuff. They don't look our stuff going to
their country. You move forward to twenty twenty five May
the twelve, and here's what we now know there was
this trade tension. They took advantage of us. The President
(15:56):
said no more, and he said we're done. We're gonna
basically put imports to one hundred and forty five percent.
You now see where we are today on the twelfth,
and the US tariffs on Chinese imports are gone from
one hundred and forty five percent to down to thirty percent.
Chinese tariffs on US goods have been reduced from one
(16:16):
hundred and twenty five percent to ten percent, and the
reductions are set for ninety day periods, during which they
say further negotiations will continue. Global stock markets what do
they do? They didn't listen to media or the left
or the Democrats. They surge with significant games and major indexes.
The US dollar also strengthened, and commodity price including crude oil,
(16:40):
rows significantly. While the agreement is seen as a quote
positive step, experts quote caution it may be temporary fixed
without addressing underlying issues. That's the economic times. Again, you
cannot trust the media and how they're doing this. So
what is the takeaway from this? The takeaway is pretty simple.
(17:01):
US China trade the relations are seeing a significant development
in favor of the US. China needs America more than
we need China, is what they are now signaling. They
were going to have major economic problems in China. That's
the reason why they decide to come forward and do
this deal now. And look, if you listen to what
(17:22):
those around the president said about this deal, President Trump
outlining a vision they said for rebranding and rebalancing global trade.
I want you to hear what Scotts said had to say.
Speaker 1 (17:35):
Take a listen.
Speaker 6 (17:36):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination. It can be terrorists, but again it is
the administration moving as quickly as possible to make sure
that we are self sufficient in the strategic industries.
Speaker 7 (17:57):
I think that's completely understandable from the United States side.
And I want to miss the secretary whether the Chinese
understood that. Did you get the sense they do understand
that will be the road forward for the United States.
Speaker 6 (18:11):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year. It didn't happen there before. It's happened
over decades, and that this happened, hal excuse me, has
(18:32):
to be remedied. The China shock gutted our manufacturing sector,
and we want to bring that back on the other side.
Speaker 5 (18:41):
Party Chair.
Speaker 6 (18:42):
She has said that he would like to increase consumption,
but to date the Chinese have just increased manufacturing. So
we would like to see them increase consumption. We would
like to see them open their market to American products.
So there are two ways to rebalance. One is fewer
(19:03):
Chinese goods in the US market. The other is more
American goods in the Chinese market. And my guess is
that the answer is somewhere in between.
Speaker 2 (19:15):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(19:38):
I mentioned earlier that China ignored and broke virtually everything
from twenty twenty to twenty twenty four that we had
had in agreements before them, currency, manipulation. Laugh in our
face is a great example of that. Second Trader Secretary
Bassett also said this about China and why they were
able to get away with ignoring the trade agreement that
(19:59):
was set up by Trump in twenty sixteen through twenty twenty,
that Joe Biden inherited that they just they didn't care
because they knew Joe Biden was weak.
Speaker 1 (20:07):
They owned him.
Speaker 2 (20:08):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 1 (20:19):
They knew they didn't have to play by the rules.
Speaker 6 (20:22):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 1 (20:31):
We had an excellent.
Speaker 6 (20:33):
Trade agreement with China, and the Biden administration chose.
Speaker 5 (20:39):
Not to enforce it.
Speaker 6 (20:41):
The Chinese delegation basically told us that once President Biden
came into office, they just ignored their obligations. So we
all already have a large framework. The other thing to
remember here, Jonathan, is that this is a pause down
to ten percent. The April second level for China is
(21:03):
thirty four percent, so we will be working to see
where their final reciprocal number ends up. And the negotiations
are a combination of tariffs, non tariff, trade barriers, currency manipulation,
and subsidies of labor and capital.
Speaker 2 (21:25):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(21:49):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same thing with
the what we just talked about with China, but now
this applies to to us and to what we're dealing
with with prescription drug prices that are clearly out of control.
Take a listen to the President talking about this at
(22:12):
the White House. Are saying we are no longer to
be taken advantage of, and the rest of the world
is going to have to pay their fair share, and
we're not going to subsidize these companies.
Speaker 4 (22:21):
But starting today, the United States will no longer subsidize
the healthcare of foreign countries, which is what we were doing.
We're subsidizing others healthcare countries where they paid a small
fraction of what for the same drug that.
Speaker 5 (22:36):
What we pay many, many times and more for.
Speaker 4 (22:39):
And we're no longer tolerate profiteering and price gouging from
big pharma. But again, it was really the countries that
forced big pharma to do things that frankly, I'm not
sure they really felt comfortable doing. But they've gotten away
with it these countries. European Union has been brutal, and
(22:59):
the drug companies actually told me, sir as, it was
just brutal how they force them. And European Union suing
all our companies Apple, Google, Meta, they're suing all of
our companies.
Speaker 5 (23:12):
They end up they have judges that are.
Speaker 4 (23:16):
European Union centric and they get rewarded fifteen billion, seventeen billion,
twenty billion, and they use that to run their operation.
Speaker 2 (23:30):
Not going to happen any longer that I can tell you,
not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you, the American people, Yes, how do
we know it.
Speaker 1 (23:44):
Here's the president on that.
Speaker 4 (23:46):
So for the first time in many years, we'll slash
the costs of prescription.
Speaker 5 (23:49):
Drugs, and we will bring fairness to America. Drug prices
will come down by much more.
Speaker 4 (23:55):
Really, if you think fifty nine, if you think of
a drug that is sometimes ten times more expensive, it's
much more than the fifty nine percent. You know, it
depends on the way you want to analyze it. But
in one way, you could analyze it that way. But
between fifty nine and eighty and I guess even ninety percent.
So when I worked so hard in the first term,
(24:17):
and if I got prices down, I remember I was
the only one to ever get prices down for a
full year.
Speaker 5 (24:23):
But I get them down like.
Speaker 4 (24:24):
Two percent, and I thought it was like a big deal.
Well we're getting them down sixty seventy eighty ninety percent,
But actually more than that if you think about it
in the way mathematically, and Farmer has to say, we're sorry,
but we'll not be able to do this any longer.
To these to these countries that have been so tough,
(24:46):
they've been very tough, nasty. It's trade. It's trade, and
Farmer is also very powerful, and the Democrats have protected farmer.
Speaker 2 (24:56):
And look, the President wasn't done there, as he explained
to the America people. And this is good for everyone.
This is not a political statement the present's making. He's
talking about how much more we are paying then other
countries are paying for the same drugs made in the
same pharmaceutical labs. The same damn pill in the same
place comes off the line, and it goes to one
(25:17):
country and they pay ten cents on the dollar compared
to the US.
Speaker 1 (25:21):
It's wrong.
Speaker 4 (25:22):
So today Americans spend seventy percent more for prescription drugs
that we spent in the year two thousand.
Speaker 5 (25:29):
Think of that our.
Speaker 4 (25:31):
Country has the highest drug prices anywhere in the world
by sometimes a factor of five, six seven, eight times.
It's not like they're slightly higher that six seven eight times.
There are even cases of ten times higher, so that
you go ten times more expensive for the same drug.
Speaker 5 (25:48):
That's big numbers.
Speaker 4 (25:50):
Even though the United States is home to only four
percent of the world's population, pharmaceutical companies make more than
two thirds of their profits. In America, with four percent
of the population, the pharmaceutical companies make most of their money.
Speaker 5 (26:06):
Most of their profits from America. That's not a good thing. Now.
Speaker 4 (26:11):
I think, by the way pharmaceutical I have great respect
for these companies and for the people that run them.
Speaker 5 (26:16):
I really do, and I think they did one of
the greatest jobs.
Speaker 4 (26:19):
In history for their company, convincing people for many years
that this was a fair system. Never nobody really understood why,
but I figured it out. For years, pharmaceutical and drug
companies have said that research and development costs were what
they are for no reason whatsoever.
Speaker 5 (26:41):
They had to be borne by America alone. Not anymore.
Speaker 2 (26:46):
They don't, not anymore, they don't the present saying we're
going to most favored nation prescription drug pricing. This is
where it's going to affect you in your bottom line
when you go shop for drugs that you need.
Speaker 1 (27:02):
And here is how that's going to work.
Speaker 4 (27:04):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price. That's the
price that we're going to get. So remember that. So
we're no longer paying ten times more than another country.
Whoever is paying the lowest price. We will look at
that price and we will say that's the price we're
(27:25):
going to pay most favored nations.
Speaker 5 (27:29):
That's what it is.
Speaker 4 (27:31):
One breast cancer drug costs Americans over sixteen thousand dollars
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one
(27:52):
tenth for the identical product. A common asthma drug costs
almost five hundred dollars here in America, but costs less
than forty dollars in the United Kingdom. So forty dollars
in the United Kingdom, which is where this gentleman told
me he paid a small amount for his shot. But
(28:15):
think of that, So forty dollars versus five hundred dollars.
Speaker 2 (28:20):
Here, forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly,
this should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
(28:40):
problems is when it comes to us is we have
so many people that are filing bankruptcy, so many Americans
that are that are filing bankruptcy because of these incredibly
high prices. This is a historic day for the president.
It's a historic day, by the way, for the American people.
It's something we should all be so excited about because
(29:02):
we finally have a president that is saying no more
to bankruptcy because of people that are having to mortgage
their homes and second mortgage and third mortgage to pay
for life saving pills that other countries are paying payings
on the dollar for. It's exactly, by the way, what
the NIH director had to say.
Speaker 8 (29:19):
I firmly believe in research and development for drugs. I mean,
it's part of the NIH mission to look for fundamental
biological advances that develop in better treatments. But why should
it only be American taxpayers that pay for that. What
President Trump is doing is saying enough, let's have a
broader base of support for this research mission. It's actually
(29:40):
pro in some ways pro pharmas because it's going to
expand the set of of sort of stakeholders to include
Europeans as well for the support of R and D,
while at the same time protecting American taxpayers from having
to pay such high prices for drugs. I mean, we
have patients going bankrupt over hy high health bills.
Speaker 2 (30:00):
We have a going bankrupt and the present's trying to
stop that. Don't forget we do this show every day,
so make sure you hit that subscribe or auto download
button so you don't miss any of the interviews we do,
especially with members of the administration. And I'll see you
back here tomorrow morning.
Host
Ben Ferguson
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