Verdict with Ted Cruz - May 13, 2025


BONUS POD： Trump’s Triumphs w BIG Pharma & China Trade Deal


Episode Stats

Length

14 minutes

Words per Minute

158.30574

Word Count

2,311

Sentence Count

171

Hate Speech Sentences

3


Summary


Transcript

00:00:00.000 This is an iHeart Podcast.
00:00:02.520 Guaranteed human.
00:00:05.920 Let's say China.
00:00:07.560 China.
00:00:08.120 China.
00:00:08.760 China.
00:00:09.300 China.
00:00:09.780 China.
00:00:10.340 China.
00:00:10.720 China.
00:00:11.200 China.
00:00:11.660 China.
00:00:12.500 China.
00:00:12.980 You go over to China.
00:00:14.140 China.
00:00:14.480 China.
00:00:14.820 China.
00:00:15.160 China.
00:00:15.540 China.
00:00:16.220 China.
00:00:16.820 China.
00:00:17.100 China.
00:00:17.420 China.
00:00:17.740 You take China.
00:00:18.400 China.
00:00:19.080 China.
00:00:19.680 I love them.
00:00:20.480 China.
00:00:21.020 You're listening to the 47 Morning Update with Ben Ferguson.
00:00:25.100 Good Tuesday morning.
00:00:26.240 Welcome.
00:00:26.540 It is the 47 Morning Update.
00:00:28.580 And my oh my as have been one heck of a week for President Trump.
00:00:32.600 Not only has he secured a UK trade deal that's historic, but now a China trade deal.
00:00:38.980 Plus the release of an American hostage.
00:00:41.360 A ceasefire with India and Pakistan.
00:00:44.320 And a ceasefire with the Houthis.
00:00:46.060 And now we will break down the other big deal as well.
00:00:49.340 First up, a massive deal on prescription drug prices.
00:00:53.180 And what happened in the China trade deal that is affecting every American.
00:00:58.580 It's the 47 Morning Update and it starts right now.
00:01:02.240 Story number one.
00:01:03.320 Major victory number one for the American people is going to have a massive impact on
00:01:09.540 so many Americans that deal with high costs of prescription drugs.
00:01:14.400 Here is what you need to know about what the President has done to lower the price of
00:01:20.320 prescription drugs for all Americans.
00:01:22.660 The announcement and the action put forth saying American patients will be first instead of
00:01:29.520 the pharmaceutical companies by Donald Trump will have an impact for every American.
00:01:34.260 Now this should not be a conservative or liberal or Republican or Democratic issue.
00:01:39.320 Yet Democrats are angry about it.
00:01:42.100 So let me tell you exactly how this is going to have an impact on you.
00:01:46.000 First up, the President said that we are now going to have Most Favored Nation prescription
00:01:53.180 drug pricing, saying we are going to pay the lowest price that there is in the world.
00:01:58.760 Here's the President in his own words.
00:02:01.100 But it's called Most Favored Nation.
00:02:03.040 We are going to pay the lowest price there is in the world.
00:02:06.020 We will get whoever is paying the lowest price.
00:02:08.560 That's the price that we're going to get.
00:02:10.300 So remember that.
00:02:11.160 So we're no longer paying 10 times more than another country.
00:02:14.980 Whoever is paying the lowest price, we will look at that price and we will say that's the
00:02:19.260 price we're going to pay.
00:02:20.620 Most favored nations.
00:02:22.560 That's what it is.
00:02:23.580 One breast cancer drug costs Americans over $16,000 per bottle.
00:02:29.560 But the same drug from the same factory manufactured by the same company is one-sixth that price
00:02:36.220 in Australia and one-tenth that price in Sweden.
00:02:39.860 One-tenth for the identical product.
00:02:42.280 A common asthma drug costs almost $500 here in America, but costs less than $40 in the
00:02:48.840 United Kingdom.
00:02:49.800 So $40 in the United Kingdom, which is where this gentleman told me he paid a small amount
00:02:54.840 for his shot.
00:02:56.440 But think of that.
00:02:57.400 So $40 versus $500 here.
00:03:01.000 $40 compared to $500, the difference between the UK and the US.
00:03:05.860 Now let me explain more about this order.
00:03:07.920 The order directs the US Trade Representative and the Secretary of Commerce to take action
00:03:13.200 to ensure foreign countries are not engaged in practices that purposefully and unfairly
00:03:19.220 undercut market prices and drive price hikes in the United States.
00:03:24.260 All what I'm giving you right now is coming directly from the White House.
00:03:27.400 I want to make that very clear.
00:03:28.680 Number two, the order instructs the administration to communicate price targets to pharmaceutical
00:03:34.620 manufacturers to establish that America, the largest purchaser and funder of prescription
00:03:40.840 drugs in the world, gets the best price.
00:03:43.840 The Secretary of Health and Human Services is going to establish a mechanism through which
00:03:48.740 American patients can buy their drugs directly from manufacturers who sell to Americans at a,
00:03:55.160 quote, most favored nation price, bypassing the middlemen.
00:04:00.440 And finally, from the White House, if drug manufacturers fail to offer most favored nation
00:04:06.040 pricing, the order directs the Secretary of Health and Human Services to, one, propose rules
00:04:11.440 and impose most favored nation pricing.
00:04:13.580 And two, take other aggressive measures to significantly reduce the cost of prescription drugs to the
00:04:19.880 American consumer and, most importantly, end anti-competitive practices.
00:04:25.880 Why?
00:04:26.420 Because the White House says this is about getting a better deal for Americans.
00:04:30.380 And President Trump once again taking action to keep pharmaceutical manufacturers from charging
00:04:35.880 Americans high drug prices while giving steep discounts to other wealthy nations.
00:04:41.460 That is something that Dr. Oz talked about the White House with the President by his side.
00:04:46.700 And here is what he said.
00:04:48.120 That means that we are paying in America four times more than that drug costs in other countries.
00:04:54.500 Again, 100% is the baseline.
00:04:56.020 It's 289% above that baseline.
00:04:58.520 It goes all the way down to when we're paying 50% more than any other country.
00:05:01.900 That's the range.
00:05:02.740 As was pointed out by President Trump, half the time we're paying three times more than it's
00:05:06.820 paid in other countries.
00:05:07.680 It doesn't make any sense for the system.
00:05:09.580 That stated, President Trump has over and over again indicated, and Secretary Kennedy
00:05:13.200 has reflected as well, we want innovation.
00:05:15.960 We want our technology partners doing the best they can to make the best solutions for
00:05:20.120 drugs to cure as many people in America and around the world as possible.
00:05:23.820 By getting our allies to pay a bit more, as they should be, and they should have for many
00:05:28.600 years been doing, we'll course correct a problem that's gotten out of hand.
00:05:32.380 And by doing that in a thoughtful, effective way, we're going to be able to get the pharmaceutical
00:05:36.140 industry whole.
00:05:37.160 Those jobs will still be here, will still be productive, will still be curing cancer and
00:05:40.740 a slew of other ailments that plague humanity.
00:05:43.260 America will still be the leader in this space, but we'll be paying the appropriate amount,
00:05:47.480 the right-sized amount for those tasks.
00:05:49.660 Now, you may ask yourself this question.
00:05:52.240 Why is the president doing this?
00:05:54.180 Well, it's all in the numbers.
00:05:56.320 The United States has less than 5% of the world's population, yet funds roughly 75% of global
00:06:04.900 pharmaceutical profits.
00:06:06.320 Here's the other thing you may not know.
00:06:08.860 Drug manufacturers discount their products to gain access to foreign markets and then
00:06:14.160 subsidize those discounts through high prices charged in America.
00:06:18.760 In essence, you are subsidizing drug manufacturer profits and foreign health systems are getting
00:06:24.660 the big deal.
00:06:25.820 Despite drug manufacturers benefiting from generous research subsidies and enormous healthcare spending
00:06:32.500 by the U.S. government.
00:06:34.060 Now, in his first term, you may not know this, but President Trump took historic action to
00:06:39.100 keep Medicare and seniors from paying more for drugs than economically comparable countries,
00:06:45.140 which the Biden administration rescinded before it could even take effect.
00:06:50.640 Why?
00:06:50.980 Because they're owned by Big Pharma.
00:06:52.920 Instead of fixing this problem, the Biden administration's greatest achievement was to negotiate prices
00:06:59.840 that were, on average, 78% higher than in 11 comparable countries as part of Biden's efforts
00:07:08.000 to, quote, beat Medicare.
00:07:10.920 In translation, the Democratic Party sold you out, the Americans who are suffering and desperately
00:07:17.160 need pharmaceutical drugs.
00:07:19.160 And they sold you out to the highest bidder, the lobbyists and the companies that came
00:07:24.400 in and said, this is what we need.
00:07:26.920 The president making it clear, this is never going to happen again in the U.S.
00:07:31.160 And as long as he is president, he is going to fight for innovation, fight for technology
00:07:36.660 and make sure that you are paying less than any other major nation in the world.
00:07:42.600 Now, story number two.
00:07:43.600 Now, the other big story of today is the fact that we now have a significant movement when
00:07:50.340 it comes to the tariffs with China.
00:07:52.640 The Trump White House has just posted a statement on the U.S. and China's historic trade deal,
00:07:58.280 putting it this way.
00:07:59.540 American tariffs on China were at 145%.
00:08:03.020 Now they're at 30%.
00:08:05.280 China's tariffs on America were 125%, now at 10%.
00:08:10.600 And Donald Trump was the one that made all of this possible.
00:08:15.000 White House Press Secretary Caroline Levy saying it this way to Fox News.
00:08:19.500 First off, your reaction and what could you tell us about the China deal that has tariffs
00:08:24.200 dropping from 145, 125 respectively to 30 and 10?
00:08:29.880 This is an extraordinary first step in the right direction.
00:08:33.380 And thanks to the strength of President Trump, Secretary Besant and Ambassador Greer were able
00:08:38.480 to cut this initial deal with China.
00:08:41.040 China agreed to reduce their tariffs on the United States by 115%.
00:08:45.800 They also agreed to continue having discussions about opening Chinese markets to American-made
00:08:51.360 products and goods.
00:08:52.360 And they also agreed to continue seriously discussing the grave impact that Chinese-produced
00:08:57.400 fentanyl is having right here in the United States and our people.
00:09:00.640 So this is a great first step for the American public.
00:09:03.620 And Secretary Besant, Ambassador Greer, and of course, President Trump will continue negotiations
00:09:07.980 with China so we can hopefully inevitably get to a fair and comprehensive big trade deal.
00:09:13.820 Now, this is going to be a pause for 90 days.
00:09:16.740 And I want you to hear exactly what the White House said to me earlier today.
00:09:20.900 This is President Trump, quote, securing another historic deal.
00:09:24.620 Today, on the heels of the brand new deal with the United Kingdom, President Trump reached
00:09:29.120 an agreement with China to reduce China's tariffs and eliminate retaliation.
00:09:33.420 Also, retain a U.S. baseline tariff on China and set a path for future discussions to open
00:09:39.580 market access for American exports.
00:09:42.300 You just heard the White House say that on TV.
00:09:45.020 Today, the United States issued the first joint statement on trade in many years with China
00:09:50.440 after successfully negotiating over the weekend in Geneva, Switzerland.
00:09:54.340 The White House says, quote, both parties affirm the importance of the critical bilateral
00:09:59.340 economic and trade relationship between both countries and the global economy, saying this
00:10:05.560 for far too long, unfair trade practices and America's massive trade deficit with China
00:10:11.500 have fueled the offshoring of American jobs and the decline of our manufacturing sector.
00:10:18.180 In reaching an agreement, the White House says, the United States and China will each lower
00:10:23.040 their tariffs by 115% while retaining an additional 10% tariff.
00:10:29.180 Other U.S. measures will remain in place.
00:10:31.840 Both sides will take these actions by May 14th of 2025.
00:10:37.600 This trade deal is a win for the United States, demonstrating President Donald Trump's unparalleled
00:10:43.160 expertise in securing deals that benefit the American people.
00:10:48.180 Then the White House said this, the Chinese action, saying, quote, China will remove the
00:10:53.500 retaliatory tariffs it announced since April the 4th and will also suspend or remove the
00:10:59.280 non-tariff countermeasures taken against the United States since April the 2nd.
00:11:04.380 China will also suspend its initial 34% tariff from the United States that it announced on
00:11:10.600 April 4th for 90 days.
00:11:12.880 It will remain at 10% tariff during the period of the pause.
00:11:16.720 And then they say under American action, the United States will remove the additional
00:11:21.220 tariff it imposed on China on April 8th and April 9th, but will retain all duties imposed
00:11:26.520 on China prior to April 2nd, including Section 301 tariffs, Section 232 tariffs, and tariffs
00:11:34.100 imposed in response to the fentanyl national emergency, invoked pursuant to the International
00:11:40.260 Emergency Economic Economic Powers Act and also the most favored nation's tariffs.
00:11:45.620 They went on to say the United States will suspend their 34% reciprocal tariff imposed on April 2nd
00:11:51.580 for 90 days.
00:11:52.760 And the 10% tariff that will remain in place is set for a fair baseline that encourages domestic
00:11:59.100 production, strengthens our supply chains, and ensures that American trade policy supports
00:12:04.560 American workers first instead of undermining them.
00:12:08.020 By imposing reciprocal tariffs, President Trump is ensuring our trade policy works for the
00:12:12.980 American economy and addresses our national emergency brought on by our growing and persistent
00:12:18.480 trade deficits and levels the playing field for American workers and our producers.
00:12:24.440 Unlike previous administrations, the White House said President Trump took a tough, uncompromising
00:12:30.320 stance on China to protect American interests and stop unfair trade practices.
00:12:36.800 They also said this is working towards a rebalancing.
00:12:40.280 When these changes come into effect, the White House says both nations agree to establish a
00:12:44.740 mechanism to continue important discussions about trade economics.
00:12:49.240 The U.S. goods trade deficit with China was $294 billion in 2024, the largest with any trade
00:12:57.360 partner.
00:12:57.780 And today's agreement works towards addressing these imbalances to deliver real, lasting benefits
00:13:03.120 to American workers, American farmers, and American businesses.
00:13:08.240 The White House saying this, finally, as our nations continue these discussions, China will be
00:13:13.800 represented by He Lefeng, the Vice Premier of the State Council.
00:13:18.300 The United States will be represented by Scott Bessent, the Secretary of Treasury, and Jasmine
00:13:23.280 Greer, United States Trade Representative.
00:13:25.460 They also said addressing the fentanyl crisis is the most important matter as well, as the
00:13:30.660 United States and China will take aggressive action to stem the flow of fentanyl and other
00:13:36.020 precursors from China to elicit drug production in North America.
00:13:41.220 If you look at what the President has been able to do in just the last couple of days, here
00:13:47.000 it is.
00:13:47.680 In just seven days, President Trump has secured a historic U.K.
00:13:53.060 trade deal, a massive China trade deal, the release of an American hostage, the ceasefire
00:14:00.380 with India and Pakistan, the ceasefire with the Houthis.
00:14:04.580 And this is exactly what so many Americans voted for.
00:14:08.340 And Donald Trump paying off on his promise to put Americans first and protecting all of
00:14:13.780 us.
00:14:14.100 Thank you for listening to the 47 Morning Update with Ben Ferguson.
00:14:18.280 Please make sure you hit subscribe wherever you're listening to this podcast right now.
00:14:23.600 And for more in-depth news, also subscribe to the Ben Ferguson podcast, and we will see you
00:14:29.060 back here tomorrow.
00:14:29.940 This is an iHeart Podcast.
00:14:35.060 Guaranteed human.