Dr. Oz Warns That Trump's Tariffs Will Drive Up Prescription Drug Costs

During an interview on CBS' Face the Nation, Dr. Oz, who has been appointed as Medicare administrator under President Trump, acknowledged that American consumers will face higher prices for medications due to the administration's trade policies. Oz stated plainly, "Everyone will have to pay a bit more" for their prescriptions, contradicting Trump's earlier campaign promises of lower drug costs. This increase is attributed to the unpredictable tariffs imposed on international trade. Host Margaret Brennan inquired about the impact of tariffs, such as the 25% levy on Indian pharmaceuticals and the 15% duty on medicines imported from Europe under the trade deal with the EU. She asked how these tariffs might influence drug prices for Medicare and Medicaid recipients. Oz responded by referencing a recent presidential directive on 'most favored nation' pricing, suggesting it could help address pricing concerns. He dismissed skepticism about the effectiveness of such measures, calling them a significant step since the previous administration. He highlighted that approximately two-thirds of personal bankruptcies in the U.S. are due to healthcare expenses, with many patients unable to aff...