US Pharma 'Price Probe' Threatens Tariffs, Not Affordable Drugs
The Financial Times highlights a potential US pharma price probe sparking new drug tariffs. What it conveniently overlooks is the decades-long, bipartisan legislative paralysis on drug pricing, largely fueled by pharmaceutical industry lobbying. In 2023 alone, pharma spent over $300 million on lobbying, outspending any other industry, according to OpenSecrets.org, ensuring bills like the Elijah E.
Cummings Lower Drug Costs Now Act (HR 3) were gutted or stalled, leaving Americans often paying double or triple what other developed nations do for the same medications. So, while the US considers tariffs on drugs from other countries—(allegedly) for charging Americans too much—it actively protects its own pharmaceutical giants from doing the exact same thing to its own citizens. It's a classic
Washington sleight of hand: punishing international players for a problem perpetuated and protected by domestic special interests. Perhaps a 'probe' into campaign contributions and revolving doors would be more illuminating than threats of tariffs.