Trump Fights Big Pharma with Drug Plan, China Tariffs Pause, American Hostage Free: AM Update 5/13

Summary

The Megyn Kelly Show – Episode Summary Episode: Trump Fights Big Pharma with Drug Plan, China Tariffs Pause, American Hostage Free: AM Update 5/13
Release Date: May 13, 2025
Host: Megyn Kelly
Platform: SiriusXM

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1. Introduction

Megyn Kelly kicks off the episode by outlining the major topics to be discussed, including President Donald Trump's new executive order on drug pricing, the temporary pause on China tariffs, recent developments regarding a Qatari gift to the White House, and the release of the last known living American hostage from Hamas custody.

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2. President Trump's Executive Order on Drug Prices

Overview: President Trump signed an executive order aimed at reducing prescription drug prices in the United States by up to 80%. The order ties U.S. drug prices to those in other developed nations, marking a significant shift in the country's pharmaceutical policy.

Key Points:

• Impact on Drug Prices: The executive order seeks to drastically lower the cost of medications for American consumers by aligning U.S. prices with international rates.

  Donald Trump [00:14]: "Starting today, the United States will no longer subsidize the health care of foreign countries."

  Donald Trump [03:33]: "What we're going to totally cut out the famous middlemen. We're going to cut out the middlemen and facilitate the direct sale of drugs at the most favored nation price directly to the American citizen."

• Economic Implications: Surprisingly, pharmaceutical stocks rose following the announcement, indicating positive market reception. The administration attributed high U.S. drug prices partly to other countries enforcing low prices, compelling U.S. manufacturers to recoup costs domestically.

• Expert Insights:

  Dr. Jay Bhattacharya [04:32]: "In almost every developed country besides the US, the system includes price negotiations and bulk purchasing, which helps lower costs. The US system currently lacks these measures, resulting in higher prices."

  Dr. Oz [05:58]: "President Trump's order is not just targeting drug companies; it's also defending American consumers who've been overpaying for too long."

• Bipartisan Reactions: While traditionally a bipartisan issue, Trump's move has been seen as addressing a long-standing problem that both Democrats and Republicans have grappled with, albeit with differing solutions.

Conclusion: The executive order represents a fundamental change in U.S. drug pricing strategy, aiming to make medications more affordable for Americans by leveraging international pricing structures and eliminating intermediary markups.

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3. Temporary Pause on China Tariffs

Overview: The Trump administration announced a temporary 90-day pause on reciprocal tariffs between the U.S. and China. This agreement is part of ongoing trade negotiations aimed at reaching a new comprehensive trade deal.

Key Points:

• Tariff Adjustments:

  Scott Besant [09:21]: "We are going to create our own efficient supply chains for critical sectors like steel, critical medicines, and semiconductors."

  • China: Lowers tariffs on U.S. goods to 10%.
  • U.S.: Reduces tariffs on Chinese goods to 30%, which includes a 10% base tariff plus an additional 20% targeting fentanyl imports.

• Strategic Goals: The pause is intended to provide both nations with breathing room to negotiate and aims to address specific strategic necessities, avoiding a full economic decoupling.

  Donald Trump [10:06]: "The relationship is very good because we opened up our country to China. They didn't open theirs to us."

• Market Reaction: Financial markets responded positively, with major indices like the Dow Jones, NASDAQ, and S&P 500 experiencing significant gains following the announcement.

• Future Plans: President Trump is set to meet with Chinese President Xi Jinping to further these negotiations, emphasizing cooperation in the war against fentanyl and opening Chinese markets to U.S. goods.

Conclusion: The temporary tariff pause signifies a strategic move to stabilize U.S.-China trade relations, focusing on critical industries and public health concerns while setting the stage for more comprehensive negotiations.

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4. Qatari Gift Controversy

Overview: The Trump administration received a $400 million luxury Boeing 747, dubbed a "palace in the sky," from the Qatari government. This gift has sparked controversy and accusations of impropriety.

Key Points:

• Trump's Defense:

  Donald Trump [12:36]: "You're ABC Fake news... They're giving us a free jet. I could say thank you very much."

  • Clarification: Trump stated that the jet is a gift to the Department of Defense, not for personal use, and will eventually be housed in the Trump Presidential Library.

  Donald Trump [13:22]: "It's not a gift to me. It's a gift to the Department of Defense."

• Response to Criticism: Trump compared the situation to accepting a putt in golf, suggesting that rejecting such gifts leads to missed opportunities.

  Donald Trump [12:34]: (Responding to criticism about the jet as a personal gift) "...a lot of people are stupid. They say, no, no, I insist on putting it...and their partner gets angry at them."

• Political Backlash: Some Republicans have expressed discomfort with accepting the gift, particularly given Qatar's complex international relations and recent hostage situations.

Conclusion: President Trump maintains that the luxury jet is a strategic asset for the Department of Defense and not a personal gift, seeking to mitigate accusations of impropriety by emphasizing its intended official use.

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5. Release of American Hostage Idan Alexander

Overview: Idan Alexander, the last known living American hostage held by Hamas, was released after more than 19 months in captivity. His release is a significant development in U.S. efforts to secure the release of American citizens held by hostile entities.

Key Points:

• Details of Release:

  Megyn Kelly [14:59]: "Oh, my God. Edan."

  Dr. Oz [15:07]: "I love you and I'm going."

  • Process: Alexander was transferred from Hamas to the Red Cross and then to Israeli Special Forces before being brought back to Israel for medical evaluation.

• Background:

  • Military Service: Born in Tel Aviv, raised in New Jersey, and served in the Israeli Defense Forces, Alexander was captured during the October 7 attack on his military base.

• Family's Statement:

  Alexander Family [14:59]: "Today on Mother's Day, we receive the greatest gift imaginable...our beautiful son Idan is returning home."

• President Trump's Commitment:

  Donald Trump [15:27]: "We hope that we're going to have other hostages released, too."

  • Future Efforts: Trump pledged to continue working towards the release of other hostages and to recover the bodies of deceased Americans still held in Gaza.

Conclusion: The release of Idan Alexander marks a pivotal victory for the Trump administration's hostage negotiation efforts, underscoring the administration's commitment to securing the safe return of American citizens from hostile environments.

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6. Other Updates

Pope Leo XIV Appointment: Robert Prevost, known as Pope Leo XIV, has been elected as the new pontiff. His appointment has been met with enthusiastic reactions from his diocese in Peru, reflecting his positive impact during his tenure.

Conclusion: The episode concludes with lighter news surrounding the appointment of a new pope, providing a brief respite from the heavier political and economic discussions.

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7. Closing Remarks

Megyn Kelly wraps up the episode by encouraging listeners to tune in for future updates and to engage with the show across various platforms, including live broadcasts and podcasts.

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Notable Quotes:

• Donald Trump on Drug Pricing [03:33]: "A fundamental change to how the US negotiates drug prices."

• Dr. Jay Bhattacharya on Global Drug Pricing [04:32]: "If it's safe, they can sell it. End of story."

• Dr. Oz on the Executive Order [05:58]: "It's helping drug companies because we're also going to defend American consumers."

• Donald Trump on China Relations [10:06]: "The relationship is very good because we opened up our country to China. They didn't open theirs to us."

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Conclusion: This episode of The Megyn Kelly Show offers a comprehensive overview of significant policy changes under the Trump administration, highlighting efforts to make healthcare more affordable, stabilize international trade relations, address diplomatic gestures, and prioritize the safety and return of American hostages. Through engaging discussions and expert insights, Megyn Kelly provides listeners with an in-depth analysis of these pivotal developments shaping the current political and economic landscape.

Transcript

[Megyn Kelly]

Good morning, everyone. I'm Megyn Kelly. It's Tuesday, May 13, 2025, and this is your AM update.

[Donald Trump]

Starting today, the United States will no longer subsidize the health care of foreign countries.

[Megyn Kelly]

President Trump signs an executive order he says will be one of the most impactful orders ever signed, aimed at reducing drug prices, some up to 80% for American consumers.

[Donald Trump]

I think it's going to be fantastic for China. I think it's going to be fantastic for us.

[Megyn Kelly]

The Trump trade team announcing a tempor deal with China reducing reciprocal tariffs for 90 days as both sides work toward a new trade agreement. New details on the Qatari government's lavish gift to the Trump White House come into focus as President Trump weighs in. And the last known living American hostage released from Hamas custody. All that and more coming up in just a moment on your AM Update. You know the home care stuff you always forget about? Maybe that's you with air filters. When was the last time you changed your home air filter? Discover the magic of Filter Easy's magic filters. Renowned for their durability and efficiency, magic filters enhance airflow, reduce energy costs, and ensure your H Vac system operates at peak performance. Say goodbye to allergens and dust. Filter EZ carries thicker whole house filters in 2 inch, 4 inch and 5 inch thicknesses. No more guessing sizes, running out of filters or living with dirty air. No matter what filter your home needs, FileEasy has you covered. And the best part, delivery, is your reminder to change your filters, experience cleaner air and a more efficient home. Today. No matter what filter your home needs, Filter Easy has you covered. And right now, if you use our code MK, you can get 50% off your first order plus free shipping forever. Filter Easy takes care of your air filters so you have time to take care of everything else. Head to filter easy.com mk filter easy.com mk use the code MK for 50% off your first order plus free shipping forever. President Trump on Monday signing an executive order he called, quote, one of the most important and impactful I have ever issued. The order seeking to lower prescription drug prices by as much as 80%, primarily by tying U.S. prices to those paid for the same drugs in other developed countries. A fundamental change to how the US negotiates drug prices. The US has less than 5% of the world's population, yet it generates around 3/4 of global pharmaceutical profits. Astronomically high drug prices, consistently sparking bipartisan, outrageous among US Lawmakers even as Democrats and Republicans historically clashed over how to fix it. American consumers pay many times over what People in other countries pay for the same drug made in the same factory. For example, American website GoodRx.com ranges a twin pack of EpiPens from 650 to $750 without insurance versus an online UK pharmacy listing the same two pack at $112. Yahoo Finance reporting weight loss drug WeGovy costs about 1300 dollars in the US compared to 140 in Germany. President Trump saying the US will no longer accept the status quo Starting today.

[Donald Trump]

The United States will no longer subsidize the health care of foreign countries and will no longer tolerate profiteering and price gouging from Big Pharma. But again, it was really the countries that forced Big Pharma to do things that frankly, I'm not sure they really felt comfortable doing. For years, pharmaceutical and drug companies have said that research and development costs were what they are and for no reason whatsoever, they had to be borne by America alone. Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay.

[Megyn Kelly]

Pharma stocks actually rising in response to the announcement as the Trump administration also assigns some of the blame for high US prices on other countries for forcing unfairly low prices in their markets, sending the drug manufacturers to recoup costs from Americans. The President specifically naming the EU as one of the worst offenders. Progressive news site Vox breaks down how the US system works compared to most other developed countries.

[Dr. Jay Bhattacharya]

In the uk the government buys the stock of medicine for the country. That means they're usually able to get a lower rate, kind of like a bulk discount. In almost every developed country besides the us this is what the system looks safety evaluation, assessment of whether the country needs it price negotiations sold to patients. Now let's look at the system in the United States. First, the drug is evaluated for safety, but that's it. If it's safe, they can sell it. End of story. Drugs are sold by the drug companies to patients, usually through insurance. Regulated drug markets tend to make drugs more affordable, but some drugs are completely unavailable. And while the US has more drugs technically available, they're often too expensive to actually afford.

[Megyn Kelly]

For decades, the prevailing logic in US healthcare held that high drug prices were the price of innovation. The steep costs for American consumers were seen as an unfortunate but necessary side effect. With limited political will to change the system. Until now. From the executive order quote, drug manufacturers, rather than seeking to equalize evident price discrimination, agree to other countries demands for low prices and simultaneously fight against the ability for public and private payers in the US to negotiate the best prices for patients. The inflated prices in the United States fuel global innovation, while foreign health systems get a free ride. NIH head Dr. Jay Bhattacharya further elaborating from the Oval, what we're going to.

[Dr. Oz]

Do is make sure that those prices become much closer to equal, like a competitive market you'd expect. You may think of it as somehow it's like it's going after drug companies. Actually, it's helping drug companies because what we're also going to do with this order, what President Trump has done with this order is he's said to European governments, look, if you are taking advantage of the drug companies by forcing them to charge very, very low prices, we're going to defend American drug companies in Europe. At the same time, we're standing up for the American consumer who's been paying far too high prices for far too long.

[Megyn Kelly]

Dr. Oz, head of Medicare and Medicaid, comparing the strategy to President Trump's strategy with NATO. Other countries will have to pay a little more, but the US Will get a long needed and deserved break. Barron's magazine referring to the order as a blessing in disguise for pharma companies, saying it is, quote, fundamentally restructuring the US Drug industry in a way that hurts pharmacy benefit managers. Pharmacy benefit managers are middlemen in the prescription drug supply chain, managing which drugs are covered under insurance, how much they cost and and what patients will pay. President Trump saying this order will provide a workaround to those managers who are also disliked by Big Pharma.

[Donald Trump]

We're going to totally cut out the famous middlemen. We're going to cut out the middlemen and facilitate the direct sale of drugs at the most favored nation price directly to the American citizen.

[Megyn Kelly]

The order provides a 30 day window for the drug companies to begin negotiating with HHS if Secretary Kennedy does not feel adequate. Progress has been made on negotiations to reduce prices within that time. The executive order says the secretary may then simply impose something called most favored nation pricing, which means using the regulatory process to tie US Prices to the lowest price paid by any major developed country. Among other actions in the order, it directs the FDA to look into increasing drug exports from other countries and directs the DOJ and Federal Trade Commission to crack down on anti competitive actions forcing artificially high prices. President Trump attempted a similar, though less expansive executive order in his first administration and it was blocked by a court as a usurpation of Congress's power. We'll see if Big Pharma files a similar legal challenge here. On Sunday, the Trump administration announcing a deal after trade Negotiations with China over the weekend. The US Team headed by Treasury Secretary Scott Besant meeting face to face with Chinese negotiators agreeing to a 90 day pause on the reciprocal tariffs beginning this Wednesday. Both nations agreeing to cut tariffs by 115%. China lowering tariffs on US goods to 10%. The US lowering tariffs on Chinese goods to 30%. That's 10% plus a 20% tariff to message to the Chinese that we are serious about stopping the fentanyl they're sending here, typically via Mexican cartels. Ongoing talks will focus on opening Chinese markets to American made goods and on cooperation in the war against fentanyl, a war the Chinese have been waging against us. President Trump on Monday confirming that higher tariffs will remain in place for Chinese imports in key national security sectors like cars, steel and aluminum. Secretary Bessant framing the goal this open markets for US Exports and bring home manufacturing for critical materials.

[Scott Besant]

We do not want a generalized decoupling from China, but what we do want is a decoupling for four strategic necessities which we were unable to obtain during COVID and we realized that efficient supply chains were not resilient supply chains. So we are going to create our own, protect our steel industry, the work on critical medicines on semiconductors. So the reciprocal tariffs have nothing to do with the specific industry tariffs.

[Megyn Kelly]

Markets ripping in response to the announcement, The Dow Jones, NASDAQ and S&P 500 each shooting straight up. President Trump reacting positively to this first phase of negotiations from the Oval.

[Donald Trump]

The talks in Geneva were very friendly. The relationship is very good. We're not looking to hurt China. China was being hurt very badly. They were closing up factories, they were having a lot of unrest and they were very happy to be able to do something with us. The relationship is very, very good because if you think about it, we opened up our country to China. They come, we don't. I mean they have very few restrictions and they didn't open their country to us. Never made sense to me. It's not fair. And they've agreed to open China fully open China. I think it's going to be fantastic for China. I think it's going to be fantastic for us. China will also suspend and remove all of its non monetary barriers. They've agreed to do that.

[Megyn Kelly]

President Trump set to speak with Chinese President Xi Jinping later this week. Coming up, President Trump slams ABC's reporting on the $400 million luxury jet the Qatari government is preparing to gift our government. And the last living American hostage is released from Hamas custody. As President Trump promises to keep working for the release of the deceased Americans still held in Gaz it was not supposed to get this bad. You were on top of your bills and then inflation hit. Been there. Groceries, gas, everything shot up. And now prices are up 26% from just a few years ago. 26%. It's not necessarily your fault if you have fallen into debt. Let me share a smarter, faster, far easier way out of debt. It's called Done With Debt and they are not like other debt relief companies. They don't push loans or bankruptcy on you. Done With Debt has legendary negotiators who go head to head with your credit card and loan companies. They have one goal, to drastically reduce or eliminate your debt altogether. They move lightning fast. Most clients see more money in their pocket month one. But a word to the wise hurry because some of their debt erasing strategies are time sensitive. Consider talking to a Done With Debt strategist before you make another bill payment. It's free. Visit donewithdebt.com that's donewithdebt.com done with debt.com President Trump on Monday offering new details on plans to accept a luxury Boeing 747 dubbed a palace in the sky from the Qatari government following backlash, including from several Republicans who say the gift smacks of impropriety. Mr. Trump responding at a press conference yesterday. Mr. President, what do you say to people who view that luxury jet as.

[Dr. Jay Bhattacharya]

A personal gift to you?

[Megyn Kelly]

Why not leave it?

[Donald Trump]

You're ABC Fake news, right? Only abc. Well, a few of you would let me tell you, you should be embarrassed asking that question. They're giving us a free jet. I could say, no, no, no, don't give us, I want to pay you a billion or 400 million or whatever it is. Or I could say thank you very much. You know, there was an old golfer named Sam Snead. Did you ever hear him? He won 82 tournaments. He was a great golfer. And he had a motto. When they give you a putt, you say, thank you very much. You pick up your bowl and you walk to the next hole. A lot of people are stupid. They say, no, no, I insist on putting it. Then they putt it and they miss it and their partner gets angry at them.

[Megyn Kelly]

Have you ever been given a gift worth millions of dollars and then not receive anything?

[Donald Trump]

It's not a gift to me. It's a gift to the Department of Defense.

[Megyn Kelly]

The President also clarifying that the plane will not be put to personal use after he leaves office. Do you plan to use the plane after you leave office?

[Donald Trump]

No, I don't.

[Megyn Kelly]

No.

[Donald Trump]

It would, it would go directly to the library after, after I leave office. I wouldn't, I wouldn't be using it. No.

[Megyn Kelly]

That could help the president's argument that this was not a gift to him personally, even if it would eventually wind up in the Trump presidential library, helping him to potentially avoid constitutional muster. Some critics on the right still feel Qatar is too questionable a friend to accept a $400 million plane from the last known living US hostage held by Hamas, Idan Alexander, released on Monday after more than 19 months in the custody of the terrorist organization. The 21 year old transferred from Hamas to the Red Cross to Israeli Special Forces, where he was then brought back into Israel for medical evaluation. Though born In Tel Aviv, Mr. Alexander was raised in New Jersey, joining the Israeli Defense Forces straight out of high school. He was captured by Hamas at his military base during the October 7 attack. On Sunday, the Alexander family releasing this statement, quote, today on Mother's Day, we receive the greatest gift imaginable. News that our beautiful son Idan is returning home after 583 days in captivity in Gaza. We express our deepest gratitude to President Trump, Steve Witkoff and the US Administration for their tireless work to make this happen. The moment here when Mr. Alexander's mother was able to speak to her son by phone for the first time.

[Donald Trump]

Oh, my God. Edan. Edan.

[Dr. Oz]

I love you and I'm going.

[Megyn Kelly]

To see you like, soon, very soon. En route home to a tearful family reunion, Edon held up a sign on board the plane reading, thank you, President Trump. Speaking from the Oval, President Trump saying the US Will work to recover the bodies of deceased Americans still held in Gaza.

[Donald Trump]

We hope that we're going to have other hostages released, too. When I met with the hostages three weeks ago and I said, how many are there? They said, 59. I said, that's a lot. They said, 59. But then they said they followed that up by saying 59, of which 24 are living, the rest are dead. I have a mother that calls me, but came up to me when I first met her and she said, sir, please, please get my son out. He's dead, but they have his body. And I asked her about that and it's as though he were alive. The level of wanting that body back is the same. It couldn't be anymore. As though he were alive. So, you know, getting the bodies back is very important.

[Megyn Kelly]

U.S. officials say the bodies of four Americans are still being held by Hamas. President Trump is offering to meet with Mr. Alexander in Qatar later this week during his Middle east trip, if Mr. Alexander is feeling up to it. Peruvian fans of Robert Prevost, now better known as Pope Leo xiv, reacting like fans at a World cup championship as they heard their former priest's name announced as the new pontiff.

[Donald Trump]

Yes.

[Megyn Kelly]

Yes. Pope Leo was bishop in the diocese of chiclayo, Peru, from 2015 to 2023. This video of seminarians within the diocese posted by semifabian24 on TikTok Clearly, Leo left an impression and that'll do it for your AM Update. I'm Megyn Kelly. Join me back here for the Megyn Kelly show live on SiriusXM Triumph Channel 111 at noon east on YouTube.com Megyn Kelly and on all podcast platforms. By the way, if you listened yesterday and heard my kids do the AM update and thank you for all the sweet feedback and you want to hear the outtakes from that recording, go to megankelly.com Club for Growth is the premier conservative organization fighting to make President Trump's 2017 tax cuts permanent. If we don't act, your family could face a 22% tax hike. [e-mail] to join the fight.