michigan 1997, it was big time. you guys were fantastic. it is great to see you. you are a good man. it's a good foundation. thank you for coming on. >> thank you so much. make sure everybody goes to givetogether.org . we will keep this moving. >> trace: got it. i'm trace gallagher. here is. ♪ >> bill: trace, thank you, good afternoon, everybody. it's friday. i am bill hemmer. looking at the white house, any moment now president trump will speak and sign an executive order aimed at lowering drug prices. more on that event in a moment to read first however, the president making a stunning decision to cancel the republican convention in jacksonville. a huge event that will not happen as continued covid cases rising in florida and other parts of the u.s. >> the timing of this is not right. it's not right with what has happened. there a flareup in florida. to have a big convention. it's not the right time.

it's really something that for me, i have to protect the american people. >> bill: covid-19 has killed 144,000 people in the u.s., infected more than 4 million, i will speak with the mayor of jacksonville and get his reaction, first time on television since the announcement in a moment. first i want to bring in erin perini, trump director of communications, thank you for being here today. we know that he really wanted this, why did the virus beat you to it in jacksonville? >> well, this decision like everyone that president trump has made in the oval office has been focused on the american people. putting them first. and in this case on their health and safety, making sure that we protect the american people. the president is right. it's not the right time to do it. so we will see what comes next with our convention, but i can tell you how enthusiasm remains sky high. every night we have original online broadcasts over 1 billion

with b used in totality of the online broadcasts. joe biden is lucky if he gets a couple dozen. >> bill: here's a dnc reaction from the beginning, saying this pandemic, democrats have put the health and safety of the american people first unlike trump, we follow the science. listening to doctors and public health experts and work on plans to protect lives. i know you take exemption to the statement, say why. >> there is a lot to take exception to. president trump has remained a laser focus on the health and safety of the american people. and has taken the time to see what is going on with the virus and made the decision based on what is going on on the ground at this time. we see the cases, we know what is happening, the president is consistently in contact with the top medical and health professionals in this country. he is making sure that he keeps american safe and we will have a great convention when we figure out what that looks like. >> bill: when we figure that out, let's dig in on that, so

jacksonville is out, the back burner now, what happens in charlotte? >> charlotte will be the actual delegate work that needs to go into a formalization process of putting president trump and vice president pence on the ballot. it is not necessary delegate work that is a core of the convention process to make sure that the ballot is finalized. and they become the official nominees of the republican par party. >> bill: to be clear, the president will show up in charlotte at some point? can you confirm? >> i cannot get ahead of the president's schedule on that, but in charlotte you will see the delegate work happen when it comes to making sure that president trump and vice president pence are nominated. >> bill: the president will be there in person at some point? yes or no? >> i can't confirm that. i don't want to get ahead of anybody on the president schedule. >> bill: interesting. the fox poll and came out last night, three critical states how it rings, biden leading trump by

11 in pennsylvania, by nine in michigan, and by 13 in minnesota, how do you come back from that to 102 days out? >> i can certainly tell you one thing, the only poll that really matters is the pole on election day. and we know in key battleground states running against joe biden internally, the president is competitive throughout the country. and wisconsin specifically when you talk about that state, joe biden just hired a state director and wisconsin. we have not left wisconsin 62016. we have had organization on the ground. we are not taking any vote for granted, we know the enthusiasm is sky-high for president trump and we are going to use that, tap into that to recruit new voters and train volunteers and make sure that our ground game gets every voter out on novembe president trump. >> bill: on we go. erin perrine, thank you for coming on. we await this event from the white house, we will speak again. i want to bring in the mayor of

jacksonville, lenny curry after the announcement to cancel the convention, putting out a measure of public safety priority number one paired his first interview since the announcement. welcome back. i'm certain that you must be disappointed, when did you know this would not happen? >> thanks for having me back, bill. when we agreed, when we saw it and made the pitch for this convention, it was june 2nd. we had a 3% cumulative positivity rate to that dropped in the week after that, but we always said that we would watch that and monitor it and we would make the appropriate decision at the right time. we were communicating the caseloads in the hospitalizations to the president, to the white house, to the rnc, and president trump made the right decision yesterday as we knew he would in the best interest of the health of the people of jacksonville. we are disappointed. >> bill: what was the level? what was the level of support from delegates who plan to travel there? where they all end? was there a big commitment? >> we were hearing that the

delegates were excited that they wanted to be here, look, the passion for president trump, they wanted to be here with him. we wanted the president here. we wanted to get our business as shot to our businesses after going through covid when we had stay at home orders positivity down. president trump made the right decision, best interest of public safety, stop the spread, this virus we know spreads person to person, so this was the right thing to do. it is as disappointing as it is. >> bill: the reason that i ask the question, there was a suggestion that even die-hard supporters did not want to be in big crowds, are you saying that there was no weakness on behalf of those who plan to come to jacksonville? >> we were hearing that the delegates were excited up until a few days ago. there were still major events planned all over the city. expected people to be there, all the safety protocols were in

place, testing, we have a mask mandate in jacksonville. we were all doing the right thing, and we will do this in a safe way, but we said we would monitor this, and weeks leading up to it, and the president made the right decision with the information we were communicating to him and his team. >> bill: the state of florida, number of cases over 100,000, the number of totality in florida, 5600, and we have seen that go up over the past week, final comment on how you beat this thing. >> we've got to be smart. we cannot be in permanent shutdown and locked down, there are so many other health and economic risks that come with that. social distancing, where a mask when you can't socially distance. but we also have to think about mental health and the future of our kids and young people. i am a proponent of kids having the option to get back to school, teachers that are vulnerable, giving them an option to do some sort of virtual, but we have to give kids and family and the options

that want to get back to school in the schoolhouse. >> bill: amen to that. thank you for coming back today. lenny curry, good luck to you and the folks of jacksonville. we will see you down the road. >> yes, sir, god bless. >> bill: as i mentioned, president trump is about to sign an executive order from the white house, we will take you there live as the event gets underway. more on what we can expect today. edward. >> this is one of those hot button issues for an election, especially if the election year coming up. we heard that it possibly could include tying the price of drugs to the amount of price that foreign countries pay for those drugs. it's exactly the deal that the white house and the administration worked out with gilead for remdesivir, buying the entire supply of remdesivir here through september that's the drug that helps coronavirus patients. the president pitched a similar idea in 2018 before the midterm election. and nonetheless installed in congress.

the press secretary point into that and listed some accomplishments so far. >> he signed legislation ending the gag clauses that stop pharmacists from informing patients about lower drug prices, and a basic average premiums for medicare plans have fallen by 13.5% since 2017. so he has done a lot already. but more to come this afternoon, actually. >> in addition you may hear about the regulations, putting more generic drugs on the market, that has an effect of lowering the prices of all drugs. regardless of what is signed today, it could be difficult to make changes quickly through executive orders. that's because after the ink is on the paper, then there are regulatory processes that have to play out on this, and that could take a while. bill. >> bill: waiting for that to get underway. we will watch it together when it starts at the white house. thank you, edward. in the meantime, rising tensions with china, we have the latest on the back and forth between

beijing and washington over closing each other's consulates. so what does that mean for the world's two biggest economies? it's getting closer on this. austan goolsbee, stephen moore will weigh in on that plus the latest from the ground overnight in chicago, portland, and seattle. as federal agents moved in, can they help restore the peace? arag stays and earn a free night. the open road is open again. and wherever you're headed, choice hotels is there. book direct at choicehotels.com. andfine, no one leaves the, tablefine, we'll sleep here. ♪ it's the easiest because it's the cheesiest. kraft. for the win win. i appreciate what makes each person unique. that's why i like liberty mutual. they get that no two people are alike and customize your car

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>> bill: quite the night overnight in chicago, crews in that town taking a second statue of christopher columbus. mayor lori lightfoot says that those statues have been temporarily been temporarily removed until further notice. protesters outside of her home calling for cuts and the police department. mike tobin picking up the reporting yet again from chicago on this. >> all the makings of what was supposed to happen in secret, but too many leaks. by the time that the train showed up at 1:00 a.m., the cameras were already in place and the statues were taken down. there was another statue taken down in little italy. the mayor's office said the statues were flash points and were therefore unsafe. now the leaks came as protesters were descending on the home of lori lightfoot. now chicago alderman are angry that they were left out of the loop. to that rioters were rewarded, and cops were injured here and disregarded. >> this proves that in chicago, mob rule is the way to go.

that if you storm the mayor's homecoming a protest at city hall long enough and loud enough and in large enough numbers, the mayor will capitulate. chicago will surrender. >> now cops were injured here last week at the site in grant park when rioters pelted them with frozen water bottles and attacked them with pvc pipes sharpened into spears. a group called black to blue planted an organization here tomorrow, and they are still going to do it. >> the community is coming together in a peaceful matter to show that we will not be quiet anymore. our voices, it's time to step up, let everybody know we are not going to stand for this attack on this the police. for the violence in the destruction of our beautiful city. >> this is drawing comparisons to 20031 mayor richard gailey destroyed the runway at meigs field in the middle of the night. but alderman lopez says there is

a sharp difference. impacting a few rich guys who could afford private planes. he said this action that happened last night was like a middle finger to all italian-americans. bill. >> bill: mike tobin in chicago, big back to blue rally scheduled tomorrow. we'll see how it goes. justice department inspector general launching an investigation of the use of force by federal officers against protesters in portland. this is the trump administration deploying more officers to me brice seattle. the human rights office is now urging the fed to limit their use of force paired william la jeunesse picks up the story from there. hey, william, good afternoon. >> another clash this weekend, not just in portland, but seattle where the mayor and police chief just finished a news conference where they pleaded with protesters who had been looting in setting fires all week to be peaceful tomorrow during a solidarity rally. why? because the city council and now a federal judge say police cannot use pepper spray, tear

gas, or nonlethal ammunition and crowd control. saying police could not prevent property damage or their own precincts would bribe batons alone as things go out of control. >> we don't have any tools in our tool belt to protect officers like we did before, we had some protection around each of the facility is. >> they put up walls around us precincts, meanwhile jenny durkan said she will take every legal step necessary to stop federal agents from deploying "occupying force" in seattle. >> i don't trust this president. i trust him to say what he does when it comes down to conflict, but we have to prepare for any scenario, and that's what we are trying to do. >> this comes as protest escalated in portland last night, not racism, but the president show of force in a federal building. at this point in time, setting fires, and trying to stop them,

warning protesters by loudspeaker multiple times to get off the fence after several breached the perimeter, cbp agents fired tear gas and foam pellets. >> we are targeting individuals that are doing these criminal acts, and we are trying to hold them accountable. >> so the fed has made 15 arrests were assault and destroying property, seattle browned their police stations, because they cannot prevent them from being taken over by protesters, while in portland, the fed did the same thing, but the city there ordered the fence to be taken down, because the fed did not get a permit. back to you. >> bill: it could be a long weekend, william la jeunesse, thank you for that today. meanwhile in washington, the senate setting up a veto showdown after giving the okay to change base is named after a confederate. the president will not give into canceled culture, fox news anchor chris wallace to talk about that in the hold up on the next coronavirus stimulus.

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but unemployment insurance is a top priority for us. >> bill: white house press secretary kayleigh mcenany laying out the priority for the next relief bill, going to be a a big one if it gets done, a debate over how to extend the unemployment benefits that americans are getting right now sticking point between the white house and senate republicans expiring at the end of this month. mitch mcconnell saying republicans will have something to roll out on monday. going to bring in fox news anchor, "fox news sunday" anchor chris wallace. i guess you are both. chris, good afternoon. you wonder what kind of lift this is with senators cruz and pollock coming out and saying they don't want any part of this. if it gets done, mitch mcconnell needs democrats in the senate to put it over the finish line. does it happen? >> that is the point that we need to make. we are just talking about the republican plan. the plan between the white house and the senate republican majority, they were supposed to have that wednesday, then they

were supposed to have it thursday. now mitch mcconnell is talking about monday, meanwhile, the house democrats passed their plan, a $3 trillion plan back in may and they are saying, why the delay? because as you point out, bill, a lot of these benefits, the payroll protection plan for small businesses, the $600 bonus and unemployment insurance for people who have been laid off as a result of the pandemic, all of that lapses by the end of the month. if the republicans are not even going to have their plan until the last week of this month, then they have to negotiate with the democrats. meanwhile the democrats are saying, what took you so long? >> bill: you keep one eye on the calendar when you talk about all of the stuff too, with that looming, it is the 800-pound elephant in the room of all the issues including the one getting underway at the white house. seniors in america vote and the president is well aware of this.

>> bill: absolutely come on sunday, just to take a day at random, it will be 100 days exactly until the election, and all of the issues really are becoming more and more pressing, and, you know, one of the big issues, and we saw it on the fox news polls that show joe biden with a big lead in minnesota, pennsylvania, michigan, and one of the questions people were asking was who do you trust more to handle the coronavirus, and leading in all states is joe biden in that specific issue, republicans and democrats cannot get their act together, they have had over two months since the democrats passed their bill to come up with their version of the relief package and get this done. it only hurts them. also, i will say that because of the fact that the president is seen as more vulnerable in the polls, you see a lot of republicans in the senate distancing themselves from the president. maybe not a lot, but some distancing themselves, because

in the end, the political rule of survival is every man and woman for himself or herself, and if the president is not seen as having huge coattails, then you will see these republicans drop away. >> bill: something to watch. in the meantime, let's talk about culture. you see this piece in "the wall street journal," editorial board, here's a headline, a note to readers, these pages won't wilt under canceled culture pressure. "the wall street journal" and member of staffers, 280 have written a letter to the newspaper's editor that was leaked and made public. in the editorial pages saying, we are not going to go to the same way of "the new york times," noting that a few days ago, the piece in "the new york times" suggesting there was a high level intolerance in america today as well that needed to be hip checked so to speak. what do you make of the position from "the wall street journal" in pushing back on what has been a bit of an avalanche, a tidal wave on this canceled culture.

>> let's go back to the times, this started when tom cotton, a u.s. senator published an op-ed article that was put in the paper that said let's send in the troops to handle the protests, this is at the height of the black lives matter protests in washington, and he said, send in the troops to restore order. you can argue whether that is the right or the wrong decision, but it was such a pushback from the staff of "the new york times" that the paper first defending the editorial, then the publisher apologized for it, and the op-ed editor, a fellow named james bennett went and resigned in protest over this. so you have that as backdrop, and then the same thing starts to happen at "the wall street journal," which we should point out is owned by the same company that owns fox news, and they came back inside, look, we got the new side, you tend to your own business on the opinion side, we

will run that, we have a separate operation, separate add, and don't thomas what to do. and so, they are basically saying, stay in your lane, but to the opinion side is going to express opinions, what a remarkable idea. >> bill: just one last point, put up the fox poll too, we asked the question, the founders of our country are better described as what? 63% say they are better described as heroes. i bring that up, chris, because in context of all of this conversation with an election looming, you wonder how a poll like that plays out. we will see you on sunday, just to pull a day out of the hat. we will call it sunday. we will see you then, chris. thank you for being here. i want to let know steven mnuchin will be one of your guests, and chris, you will talk with the mayor of kansa city, missouri, the city at the heart of the president's effort to combat crime, check out your local listings, station in time, and check out christopher wallace this weekend.

now this. >> and frankly, dealing with china, pushing president trump's goals forbearance and reciprocity. >> bill: new details on the tiny scientist who the feds had lied to get into the country, just the latest in a series of tensions between america and china. plus lawmakers are letting time run out and renewing the unemployment benefits, i will talk with our friday economic team austan goolsbee and stephen moore as we await the president next on this friday afternoon. ♪

>> bill: we are learning more now about a chinese military scientist who the fbi says lied about her background to get into the u.s. and become a researcher at a university in california per justice department officials now say that she is in custody. meanwhile beijing ordering the u.s. to close a consulate and western china after americans told the chinese to close their

consulate in houston, texas, by today. casey stegall reports on that. he is life in dallas, texas. speak of the fed in fact gave the chinese consulate in houston 72 hours to close. that eviction deadline is about 5:00 eastern today. we have seen some video out if they are showing items being moved out, largely in black trash bags being packed into u-haul u-haul trucks. although the council told politico they will remain open until further notice. earlier this week you remember the houston fire department was called after reports of classifying documents and other papers being burned at the site which experts say is not uncommon when a government closes a diplomatic facility. china's foreign ministry has been announced via eviction saying it breached international law and harmed u.s. china relations. in response, today beijing ordered the u.s. consulate to close. accusing some of its workers of harming china's security interests among other things.

some experts fear beijing will continue to retaliate with moves that could harm the american economy. >> they will stop an end u.s. oil gas contracts. most of those contracts are safe, they are buying texas oil and gas, they can very well say no, we are done, and that would be a loss of billions of dolla dollars. >> yesterday, secretary of state mike pompeo called the houston consulate a hub of spying and intellectual property theft. he urged the people of china and allied countries to work with america on changing the communist party's behavior, pompeo did not comment on what would happen next if those eviction orders are not followed today down in houston. so, to be taken in -- to be continued, bill. >> bill: will see where it goes, steve moore, an advisor president trump's campaign, and austan goolsbee, former chairman of the account of economic advisors under president obama.

good friday to both of you. nice to have you both back. austin, it is your go at this at the moment with rationing tensions between beijing and washington, how concerned should we be about this dragging over into some sort of economic impact? >> well, i think pretty concerned. if we get into another escalating trade war with china while simultaneously we are threatening tariffs on europe and we are in the middle of a raging pandemic in the steepest recession we have ever been in, it's kind of like the question is, are you sure we need to do all of these things at the same time? it just seems like poor timing. >> bill: some people think it is already at cold war 2.0. i don't know if you have gone there yet, but what is your feeling about the impact economically? >> we want to have trade with china, but china has been a bad

actor. i like pompeo's speech a lot yesterday. every american should listen to what he said. he said we can no longer regard china as any kind of friend or ally. they have become an adversarial power. they steal our intellectual property, they cheat on trade deals, and now we are seeing more and more nefarious activity with respect to china and this disease. we have to get very tough with china. i think that we confront the fact that we are in a cold war with china right now and act appropriately. >> bill: what pompeo was saying, his message was that the chinese people don't be ruled by the communist party in the future, it is a tall order, but it was a strong statement i in e nixon library yesterday. secretary scalia, labor secretary was with us in our program yesterday, talking about the importance of giving americans the incentive to go back to work, not to sit at home and make more money without working, and here is that comment from yesterday on our

show. because what we are very interested in is helping people get back to work and incentivizing hiring of workers, i think that incentives in one form or another will and should be in the legislation in order to bring the economy back to the extraordinary levels that we were injuring before the virus. >> bill: austin, what is your sense of how they can get that done or how we get people back in the jobs? >> well, look, i think two things, one, the republican party is in disarray and cannot agree on what they even want in a rescue or relief package, that has been the delay on the washington side. the argument that because we provided rescue and relief money so that people would not be evicted from their homes on a temporary basis, that that is the thing keeping them from getting employed is absurd if you look at the data. it's not true at all. last month we added almost

5 million jobs in 75 percent of those jobs were people who according to their calculation should not have wanted to go back to work. the main way you get people to go back to work is to get control of the spread of the virus. the businesses want to restart. the people want to go back to work. the reason they aren't is because they are afraid they will catch the virus. and the president continues after months of this pandemic to not have a plan to control the spread of the virus. he literally spent more time in the week talking about how he did not fail a dementia screening then he spent on how he is going to get 30 -- >> bill: he talked about a lot. he talked about a lot more than that. kayleigh mcenany said just last hour that the priority for the white house is to keep the insurance going, steve, what do you think about that? >> well, look, this is a really important point in a really big ideological difference between

those of us on the right like myself, and by the way, casey mulligan, who is a great economist at the university of chicago, and a colleague of austin, we believe, and most conservatives do that it is really bad policy to pay people more for not working then working. and by the way, not just bad policy which it is, it is often unfair. it's unfair to the people who are working that they come back from a hard day of work and the guy sitting next to them on the couch is watching tv and chomping popcorn and making more money. it is not fair. we have to go to a policy -- >> are you upset, steve, that the fed is giving out? >> i'm not for bailing out anybody, we have to -- >> giving $5 billion to accompany us? >> no, i don't like that. i don't like the federal government bailing out anybody. what i am saying is, you said this to me last week, look around, look around, austin, look at the companies help wanted, help wanted. i talked to small business women

and men all the time, stores, restaurants, they literally don't, cannot get workers back on the job, because they are getting twice as much money in many cases for not working. of course we want to help people who lost their jobs -- >> how do you explain why 5 million people went to work last month? because they were giving temporary work the workers -- >> you can have it both ways. you can't say that he is doing a bad job on the economy and we get five minor jobs and you say, where the 5 million jobs? some people won't go back, others will. this is why i am in favor of the payroll tax, not giving up on it, because it rewards people for working, and we need to do that. >> bill: thank you, gentlemen, secretary scalia saying that many are taking $75,000 by staying at home. i don't know how you do that. thanks to you both. gentlemen, go enjoy the weekend. thanks. a cdc releasing new guidance for schools on reopening, i will talk with tennessee's education

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>> bill: here we go, the event at the white house under way, let's drop in on the executive order of the drug prices. >> president trump: i'm unwilling to wait any longer, therefore today i am signing for cosweeping executive orders that will lead to massive reduction in drug costs, massive. we've already gotten them down a little bit, but that's not good enough. first time in 51 years, as i said, but not good enough. they represent a far-reaching drug reforms ever issued by a president, nothing even close,

joining us for this important occasion in our secretary of health and human services, alex, where is alex? administrator, both doing a great job. thank you, fda administrator, dr. stephen hahn who is really speeding up the process of therapeutics and vaccines. and i just heard from some of the big drug companies, and they are saying fda has really been moving the process along with it and that's very important. can you move it faster, please? okay, great job. we appreciate it. and administrator of health resources and services, administration, angles, thank you very much for being here. we are also pleased to have with us our great governor from the state of florida, incredible state, incredible guy.

governor ron desantis. thank you very much. appreciate it. he will say a few words at the end, representative matt gaetz, our friend, hi, matt, you are so quiet back there like that today. great job you're doing. we appreciate it very much. speaker of the florida house of representatives hosea leiva, jose, thank you, jose, very much, good job. and many other state and local leaders we have a lot of them. thank you very much for being here. the four orders timer signing today will be on the prescription drug market in terms of pricing and everything else to make these medications affordable and accessible for all americans. the first order will require federal community health centers to pass the giant discounts they received from drug companies on insulin and epipens directly to their patients.

you know insulin became so expensive people were not able to use it. they desperately needed it. we have it to a level you will not believe. likewise you have been hearing horrible stories about epipens over the last six or seven years, horrible, horrible, horrible. increases for where they went to almost nothing to massive amounts of money. we are changing that right now. these providers should not be receiving discounts for themselves while changing for their patients massive full prices. under the order, the price of insulin for effective patients will come down to just pennies a day. pennies a day from numbers that you weren't even able to think about. it's a massive cost savings. the second executive order i am signing this afternoon will allow states, wholesalers, and pharmacies to do something other politicians have promised for decades and decades were never

done. they never delivered. we will finally allow the safe and legal importation of prescription drugs from canada and other countries with the price for the identical drug that is incredibly lowered. it is a difference like you would not believe. 70%, 80%, 90%. 30%, but massively lower. then the identical drug made in the same plant, same factory, same exact drug. same everything. same box. same pill, and yet, it is 50, 60, 70% lower. and this is something that to ron and i have been discussing from the time ron got elected. and i have been wanting to do it and it takes a long time from a legal it all worked out. so, we are going to be getting

massive drug savings in florida and other states. and we've had numerous states that wanted to do it. ron really was at the forefront, i will say that. but you have other states that have caught on. and that has happened very quickly, did not take them very long to figure that one out, ron, too obvious. we pay for the research and development in foreign countries that pay absolutely nothing in our consumer gets charged. it's been going on for decades. the american people paying over three times more for medicine than the canadians. many people go to canada, i see it all the time. they go to canada to buy drugs and then they come back. prescription drugs because they save so much money, the trip is well worth it. the obama-biden administration pledged to end this unfairness allowing drug importation, but they never got it done. they weren't able to get it done. they didn't get a lot of things done. but under my administration we are standing up to the lobbyists

and special interests and fighting back against a rig to system, rig two system, you have heard that word before, i am on rigging the system that is many decades old. we are doing something that should've been done along time ago. the third revolutionary order i am signing today will prevent middlemen and women, i guess but you have heard about the middle man that makes so much money, nobody knows who they are, nobody has any idea who they are, they make more money then maybe even the drug companies themselves, and the drug companies in all fairness to them, big pharma, and they are doing a great job on the vaccines and they are doing a great job and therapeutics. i can tell you, because i deal with them a lot. but i think that middlemen make more money, and they don't do much. maybe they don't do anything. some people say they don't do anything. nobody even knows who they are. but the middlemen are making a

fortune, and pharmacy benefit managers and people are just milking medicare patients with these high drug prices while they pocket gigantic discounts. gigantic discounts. the amount of money they have made over the decades is to incredible even to speculate or say. it's massive. some very rich people are not going to like me very much today, i can tell you. i probably know them very well. i probably see them in palm beach. but nobody ever talks about who they are. everyone, i hear the middlemen for years, the middlemen, right, alex? he does not know who they are either, but he knows that they are rich. they are not going to be so rich anymore, because the money is going down to reduce the price of drugs and prescription drugs. so that's a big thing.

that's a tremendous step. it should have been taken a long time ago. but they have a great deal of power. i don't have to tell you how many phone calls i have had in the last few days when they heard i was going to be doing this. i've heard from people that i haven't spoken to in a long ti time. frequently drug companies give these middlemen discounts of up to 50 percent on the price of prescription drugs, but too often those discounts are not passed on to the pharmacy counter, meaning the people. this rule will pass that those billions and billions of dollars a year, i mean, many, many billions a year and discounts on two patients. directly on to patients. directly onto patients, saving americans with high drug costs thousands of dollars a year. individual people will make thousands of dollars a year. you will not believe the impact of the things that we are talking about today that are going to have. mark meadows, our chief is

sitting here, and he is just -- he can't even believe it, because he was a very successful congressman, he has been after people to do this for a long time. and they never got to the gate. i understand why. tremendous pressure. tremendous pressure put on the president not to do it. the fourth and final order i am signing today is the granddaddy of them all. and on the backs of american patients and american seniors, for decades our citizens have paid the highest prices, prescription drugs, anywhere in the world, and it is not even close, foreign nations have paid vastly less for the exact same drug again and the exact same box from the exact same plant, from the exact same company, they would pay 10%, 20%, 30%

what our people are paying -- for $1 in some countries, i won't name them, they are all allies, right? they call them allies. i called them so-called allies, but a pill that would cost $1 would be seven or $8 in our country. same pill. we pay 80% more than nations like germany, canada, and others were some of the most expensive medicines identical in all respects. this means that americans are funding the enormous cost of drug research and development for the entire planet. we are bearing the entire cost of all of this. they are bearing none. they say that this is what we are going to pay. in some cases it is the socialist country. so we are paying to reduce drug prices in a socialist country. how does that work, how does

that work. these are things that should've been done a long time ago, and even from our standpoint, we would have done it more quickly. but we have to go through vast amounts of waiting this is an incredible day. this is a big day. this is a big day. i've been waiting for this day for a long time. we incredibly and foolishly bear the costs of all research and development, which is massive. in all fairness to the drug companies, they can take 15 years to get something approved. billions and billions for a simple drug. it also means that the u.s. taxpayers are effectively subsidizing the socialist health care systems of foreign welfare states and many other countries. we will end the abuse and restore the principles of free enterprise, but this doesn't

even have to do with free enterprise. this has to do with common sense and courage, to be honest. courage. under this transformative order, medicare will be required to purchase drugs at the same price as other countries pay. so, we would pay for a five times more for a drug we now pay, if somebody else pays $1, we pay $5, we are paying $1. and what is going to happen is there never will go up. our number will come very substantially down, and we will agree to .542 or whatever it is. wherever it may be in the world, because they have smarter people than we have. and that's what it's all about. may be more honest people. who knows? could be a lot of things going, but we have -- we get now the lowest price anywhere in the world, and no more will we have to suffer by saying why is it so

much cheaper for the exact same drug and some other country? we will determine what other medically advanced nations pay for the most expensive drugs, and instead of paying the highest price, medicare will pay the lowest price, and so will lots of other u.s. buyers. medicare is the largest purchaser of drugs anywhere in the world by far. medicare of your largest purchaser of drugs anywhere in the world, and we are finally going to use that power to achieve a fair and lower price . everyone will get a favor and much lower price. this is not talking about one half of a percent. this is big stuff. under our ridiculous system, which has been broken for decades, we aren't even allowed to negotiate the price of drugs. can you believe it? we are not allowed. we are restricted by congress from n