🗞️Trump's executive order on drug prices

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May 12th, 2025

What happened today 🇺🇸,

• President Trump has signed an Executive Order that will attempt to reduce prescription drug and pharmaceutical prices….the order requires that U.S. prescription drug prices be set no higher than the lowest prices paid by other developed nations-a policy known as “most favored nation” pricing and aims to cut medication costs by as much as 30% to 80% for some drugs…for more click the article above

• The U.S. and China have agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month in order to have time to continue speaking and resolve the differences, U.S. tariffs on Chinese imports will be cut to 30% from 145% and China’s tariffs on U.S. imports will be cut to 10% from 120%

• A flight carrying 49 White South Africans who were granted refugee status in the U.S. arrived in Washington D.C. at Dulles airport today

• President Trump departed for Saudi Arabia today, embarking on his first international trip of his second term

• Deputy Attorney General, Todd Blanche, has been named acting Librarian of Congress

• President Trump plans to accept a jet, valued at $400 million, from the government of Qatar to use as Air Force One…for more click here

• More than 45 million Americans are expected to travel for Memorial Day, this would be a new travel record for the Memorial Day holiday

• OpenAI and Microsoft are rewriting the terms of their multibillion-dollar partnership in a negotiation designed to allow OpenAI to launch a future IPO, while protecting Microsoft’s access to cutting-edge AI models

• Fox announced they will launch a new streaming service that will be released just before the upcoming NFL season begins…it will be called Fox One and will allow viewers to access livestreams and on-demand content from several channels, including Fox News, Fox Sports, FS1, FS2, Fox Business, and local stations

• McDonald’s has announced a plan to hire 375,000 people across the U.S. this summer

• DOW up 2.81% / S&P up 3.26%

• Hamas has released the last living Israeli-American hostage in Gaza, Edan Alexander, as part of an effort to reach a ceasefire deal and resume humanitarian aid deliveries to Gaza

• British Prime Minister, Keir Starmer, said the U.K. will be implementing new immigration reforms and will bring down migration into the country in order to end the country’s “failed experiment in open borders”

Plus: An interesting look at the top selling visual arts

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