President Donald Trump revealed that he used the threat of a 100% tariff on French wine and champagne to push for changes in global drug pricing. During a speech at a steel plant in Georgia, Trump detailed his approach of aligning US drug prices with lower rates paid in other countries. He cited the stark price difference, mentioning a pill selling for $10 in New York but $130 in London.
Trump recounted his conversation with French President Emmanuel Macron, where he demanded price adjustments, stating that Macron initially resisted the idea. However, after Trump threatened a 100% tariff on French wine and champagne entering the US market, Macron agreed to make the changes. Trump claimed similar success with other countries like Germany and Spain, emphasizing tariffs as his preferred negotiating tool.
The President linked his drug pricing initiative to his broader tariff strategy, highlighting the effectiveness of tariffs in his negotiations. Trump expressed his reliance on tariffs, stating that they have played a crucial role in revitalizing American manufacturing. He also mentioned awaiting a Supreme Court decision on his authority to impose specific trade duties, underscoring the significance of tariffs in his economic policies.
