Breakthrough in U.S.-China Trade plus Trump’s Executive Order to Slash Drug Prices

The 47 Morning Update with Ben Ferguson

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2d ago 14:42

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1. US-China Trade Negotiations

The podcast opens by criticizing the media for pessimism about US-China trade talks.
It reports a “significant breakthrough” in trade negotiations after two days of talks in Geneva.
US Treasury Secretary and Trade Representative express optimism, noting substantial progress with Chinese Vice Premier and ministers.
The agreement is framed as a major win for the Trump administration, with a full briefing promised.
Emphasis is placed on the $1.2 trillion trade deficit and the declaration of a national emergency to justify tariffs.
The talks are described as constructive, with both sides establishing a new consultation mechanism for ongoing dialogue.

2. Executive Order on Prescription Drug Prices

Trump announces a major executive order aimed at reducing prescription drug prices by 30% to 80%.
The policy includes a “Most Favored Nations” clause, ensuring the US pays no more than the lowest global price for drugs.
Trump criticizes pharmaceutical companies and Democrats, accusing them of enabling high prices through lobbying.
The order is said to provide massive discounts for low-income patients and support state-level cost-saving programs.

3. FAA Technology and Infrastructure Overhaul

Transportation Secretary Sean Duffy reveals that the FAA is using outdated technology, with parts being sourced from eBay.
A major infrastructure overhaul is promised, including a new fiber-driven system for air traffic control.
The situation is described as urgent, with safety concerns and training of new air traffic controllers underway.
Trump is credited with initiating the overhaul, which previous administrations allegedly ignored.

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